Boy is this thread DEAD!!!
I don't know if you are still interested in a response to your very dated (however the latest) post.
But here goes....
I am a travelling rep out of K.C. I travel MN, KS, IA, NE, IL, and we are absolutely inundated with Applebees restaurants. As a matter of fact I waited tables for a year in college at a new Applebees locale. (my humble beginnings)
Food is decent...service is decent (except for the singing Happy B-Day where 6-8 of the serving staff sing at your table......4 or 5 B-days per night...go figure) Constantly changing menu...all of 'em look alike. When in MN I feel like I'm in K.C. b/c they look identical...this is a +. But some people don't like a patented look restaurant...that is the -.
Irregardless this is a very well managed company....also recently involved in International endeavors.
I also think that this stock is trading at far less (perhaps 75%) of its value. This is easily a $24-$30 stock.
Inasfar as your question: I think that you may have missed the boat. Applebee's are everywhere...I don't remember the figures on total qty of location...but hundreds and hundreds...and in many foreign countries. If anything....Applebees' problem is finding new places to put'em!!!! Your town, city, county is VERY late in recv.'ing their first Applebees Neighborhood Restaurant.
The concern, however, should be that they can keep up their previous track record with the increases in labor costs, food costs, utility costs.....Let's also be certain that they take good care of the physical properties that are out there....changing carpets, chairs, booths, upholstery....even glasses. Let's keep'em lookin' sharp!!
I am very + on Applebees right NOW.
Jason
P.S. I wouldn't worry about Applesouth's leaving the chain..I think in the long run Applebees International wins. |
