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Strategies & Market Trends : Can you beat 50% per month?
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To: Smiling Bob who wrote (13980)7/10/2008 7:21:18 PM
From: Smiling Bob  Read Replies (1) of 19257
 
DineEquity releases 2Q same-store sales results
Thursday July 10, 4:40 pm ET
DineEquity 2nd quarter same-store sales rise at IHOP, fall at Applebee's

GLENDALE, Calif. (AP) -- DineEquity Inc. said Thursday its second quarter same-store sales rose at its IHOP pancake chain but fell slightly at its Applebee's chain.

For the quarter ended June 30, DineEquity said IHOP's same-store sales rose 2.6 percent systemwide while Applebee's systemwide same-store sales fell 1.7 percent.

Same-store sales, or sales at locations open at least a year, is a key indicator of restaurant performance since it measures growth at existing locations rather than newly opened ones.

DineEquity Chief Executive Julia A. Stewart said sales at IHOP were helped by limited time offers like Tour de French Toast and Discover America Pancakes.

Stewart said the company is still in the early stages of implementing a turnaround at its Applebee's brand. IHOP completed the acquisition of Applebee's in November.

She added that traffic grew at IHOP but fell at Applebee's.

DineEquity said it expects IHOP same-store sales to rise between 2 percent and 4 percent in 2008. For Applebee's, the company predicted same-store sales will range from a 1 percent decline to a 1 percent rise for the year.

Previously, DineEquity had said it expected same-store sales growth between 1 percent and 2 percent at Applebee's.
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