Business

July 29, 2014

Applebee’s parent company reports a bigger profit

Dine Equity saw an increase in second-quarter earnings thanks to stronger sales at its Applebee’s and IHOP restaurant chains. Julia Stewart, Dine Equity’s chairwoman and chief executive, said both restaurant chains “outperformed their respective categories based on industry sales data” during the quarter.

Dine Equity on Tuesday reported an increase in second-quarter profits thanks to stronger sales at its Applebee’s and IHOP restaurant chains.

The Glendale, Calif.-based company earned $19.1 million in the second quarter that ended June 30, up from $16.9 million in the same quarter a year ago. Revenue grew to $160.5 million from $158.1 million in the previous year’s quarter.

The company cited improvements at both of its restaurant businesses. Applebee’s, which is based in Kansas City, reported a 0.6 percent increase in same-restaurant sales, a key measure of operations that have been open at least one year. IHOP reported a 3.2 percent increase in same-restaurant sales.

Julia Stewart, Dine Equity’s chairwoman and chief executive, said both restaurant chains “outperformed their respective categories based on industry sales data” during the quarter.

| The Star

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