Applebee's and IHOP Post Sales Gains in Q1 2015
DineEquity, the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, today announced financial results for the first quarter of fiscal 2015.
"DineEquity started the year with continued strong momentum, delivering a 30 percent increase in first quarter adjusted earnings per diluted share. Our focus on enhancing our iconic brands and guests' experiences is yielding positive results. Both Applebee's and IHOP continued to outpace industry sales for their respective categories," says Julia A. Stewart, chairman and CEO of DineEquity, Inc.
Ms. Stewart continues, "Our strong performance continued to generate robust free cash flow, the majority of which was returned to shareholders. Looking ahead, we will continue to deliver on our brand-building strategies and remain focused on innovation and operations excellence to drive the business."
In total, franchise and restaurant revenues in the first quarter hit $141.8 million, up $10 million from the year prior. IHOP's domestic system-wide same restaurant sales increased 4.8 percent for the first quarter of 2015 compared to the same period in 2014.
Applebee's domestic system-wide same-restaurant sales increased 2.9 percent for the first quarter of 2015 compared to the first quarter of 2014.
In total, franchise and restaurant revenues in the first quarter hit $141.8 million, up $10 million from the year prior. Total revenues were $175.8 million.