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Denny's Corporation (NASDAQ: DENN), based in Spartanburg, S.C., is one of America's largest franchised full-service restaurant chains. Known for its all-American diner experience, Denny's has been an iconic brand for over 60 years, offering a wide array of hearty meals 24/7, every day of the year. The company operates two key brands: Denny's and Keke's Breakfast Cafe. As of December 27, 2023, Denny's boasts 1,573 global restaurants, with 1,508 franchised and licensed locations and 65 company-operated venues. Keke's, meanwhile, has 58 restaurants, 50 of which are franchised and 8 company-operated.
Denny's generates revenue through food and beverage sales and collects royalties, advertising revenue, initial and other fees from franchised restaurants. The brand is synonymous with comfort food, offering pancakes, appetizers, sandwiches, salads, breakfast melts, and omelets.
In recent news, Denny's reported a 1.3% increase in domestic system-wide same-restaurant sales for the fourth quarter of 2023, despite a challenging operating environment. For the entire fiscal year, domestic system-wide same-restaurant sales grew by 3.5% compared to the previous year.
The company recently entered an expansive agreement with Franklin Junction to accelerate its market presence through the Host Kitchen® platform. This partnership aims to enhance delivery capabilities and extend Denny's reach in the digital-first world.
Denny's financial condition remains robust, with total operating revenue at $110.0 million for the first quarter of 2024. The company ended the quarter with $271.4 million of total debt, including $261.2 million of borrowings under its credit facility. Adjusted net income per share for the quarter was $0.11.
Future initiatives include expanding Keke's outside Florida, launching a third virtual brand, Banda Burrito, and reigniting Denny's remodel program. The company's focus on strategic levers like best-in-class breakfast offerings, unbeatable value propositions, and off-premises convenience is expected to drive further growth.
Denny's has launched its limited-time fall menu, featuring a variety of seasonal offerings. Highlights include the returning Pumpkin Pecan Pancake Breakfast, made with real pumpkin, pecans, and pecan pie sauce. The menu also showcases savory options like the Classic Benny Breakfast and Prime Rib Benny Breakfast. New additions include Double Chocolate Pancake Puppies and the Pecan Panookie. The menu aims to provide comforting meals as families gather for the season. Denny's operates over 1,645 locations globally.
Denny's has officially announced the creation of its All-Pancaker Team, featuring top offensive linemen from college football. The team includes Jalen McKenzie, Mark Evans II, Nicholas Petit-Frere, and newcomer Tristan Leigh, all of whom have signed Name, Image, and Likeness (NIL) deals with the brand. Denny's will sponsor these athletes, providing them with support in the form of buttermilk pancakes and promotional activities. This initiative emphasizes Denny's commitment to fostering diversity and supporting student-athletes from various backgrounds as they navigate their athletic and academic careers.
Denny's Corporation (NASDAQ: DENN) has successfully refinanced its revolving credit facility, increasing its borrowing capacity from $350 million to $400 million. The new five-year facility features a reduced initial interest rate of LIBOR plus 225 basis points. With $248 million authorized for share repurchases, the company plans to relaunch its multi-year program. Since 2010, Denny's has repurchased approximately 54 million shares, totaling $554 million. This refinancing reflects confidence in Denny's brand and enhances financial flexibility for shareholder returns and brand investments.
Denny's Corporation (NASDAQ: DENN) reported a strong recovery in its Q2 2021 results, with total operating revenue rising 164.3% to $106.2 million compared to the prior year. While domestic system-wide same-store sales fell 1.2% compared to 2019, June and July saw sales surpass pre-pandemic levels. Operating income improved to $18.3 million, and adjusted net income was $11.6 million. The company opened three franchised locations and experienced robust performance from its virtual brands. Current trends suggest continued sales growth, with Q3 guidance indicating an anticipated 2-4% same-store sales increase.
Denny’s Corporation (NASDAQ: DENN) will announce its financial results for Q2 2021 on August 3, 2021, after market close. The company operates one of America's largest full-service restaurant chains with 1,649 locations globally, including in Canada, Mexico, and several other countries. A conference call with senior management will be held on the same day at 4:30 p.m. ET to discuss the results. Interested parties can access the call through the Investor Relations section of the Denny’s website.
Denny’s Corporation (NASDAQ: DENN) will participate in the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, at 12:25 p.m. Eastern Time. CEO John Miller will present during this virtual event. Interested parties can listen to a live audio webcast and access a replay on the Investor Relations section of Denny's website. As of March 31, 2021, Denny's operates 1,649 restaurants worldwide, including locations in Canada, Puerto Rico, Mexico, and more.
Denny's Corporation (NASDAQ: DENN) has appointed Olu Beck to its Board of Directors, enhancing its leadership with her extensive experience in strategic growth and brand management. Beck, founder of The Beck Group NJ LLC, has over 25 years in the industry, previously serving as CEO of Wholesome Sweeteners and holding senior roles at Fortune 50 companies like Mars and Johnson & Johnson. Her appointment is expected to strengthen Denny's brand transformation strategy and drive engagement post-pandemic. Denny's is committed to diversity, with a workforce comprising two-thirds underrepresented groups.
Denny’s Corporation (NASDAQ: DENN) reported Q1 2021 results, showing total operating revenue of $80.6 million, a decline from $96.7 million YoY due to COVID-19 effects. Same-store sales fell 20.0% from 2019 and 9.7% from 2020. The company achieved a net income of $23.2 million or $0.35 per diluted share, an increase from $9.0 million YoY. Franchise operating margin was 49.5% with plans for new virtual brands contributing to recovery. However, total debt stands at $229.9 million, and no business outlook is provided due to ongoing pandemic uncertainty.
Denny's Corporation (NASDAQ: DENN) will announce its financial and operational results for Q1 2021 on May 4, 2021, after market close. The announcement will be followed by a conference call at 4:30 p.m. Eastern Time, where senior management will discuss the results and address questions. As of December 30, 2020, Denny's operated 1,650 restaurants globally, including locations in the U.S. and several international markets. Interested parties can access the live broadcast via the company's Investor Relations section online.
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