Denny’s Reports Third Quarter Financials
Denny’s Corporation, franchisor and operator of one of America's largest full-service restaurant chains, reported results for its third quarter that ended September 30.
Domestic system-wide same-store sales grew 6.1 percent, comprised of a 7 percent increase at company restaurants and a 5.9 percent increase at domestic franchised restaurants. The company opened nine franchised restaurants, including one international location in Dubai, and completed 63 remodels, including 13 at company restaurants. The company closed five franchised restaurants during the quarter, bringing the total number of restaurants to 1,700.
John Miller, president and CEO, stated, “Throughout the third quarter, brand momentum continued as we generated strong same-store sales growth at both franchised and company restaurants. This includes growth in guest traffic over the past year for the system and since 2013 at company restaurants. We are benefiting from the execution of our brand revitalization efforts focused on enhancing our food, service, and atmosphere.”
During the third quarter, sales at company restaurants expanded 7.8 percent to $89.3 million, primarily due to the increase in same-store sales and the reopening of the Las Vegas Casino Royale restaurant in November 2014.