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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 Corporation (NASDAQ: DENN) will participate in two virtual conferences: the Bank of America Securities 2021 Consumer & Retail Technology Conference and the UBS 2021 Global Consumer and Retail Virtual Conference. Investor meetings will occur on March 9, 2021, at 2:30 p.m. Eastern Time and March 10, 2021, at 2:00 p.m. Eastern Time. Live audio webcasts can be accessed through Denny's Investor Relations website, along with replays post-event. As of December 30, 2020, Denny's operates 1,650 restaurants worldwide.
Denny's Corporation (NASDAQ: DENN) reported its Q4 and full-year results for 2020, highlighting significant impacts from the COVID-19 pandemic. Total operating revenue was $80.1 million for Q4, down from $113.8 million last year, with same-store sales declining 32.9%. The full-year revenue reached $288.6 million, reflecting a 31.4% decrease in same-store sales. Despite an operating loss of $1.1 million in Q4, net income was reported at $2.4 million. Denny's remains optimistic for 2021, bolstered by vaccine distribution and new virtual concepts. However, uncertainty persists due to ongoing pandemic effects.
Denny’s Corporation (NASDAQ: DENN) announced the opening of its 11th restaurant in Central America, the third in Guatemala, located on Vista Hermosa Blvd. in Guatemala City.
This new establishment is owned by franchisee Grupo Comidas, led by Roberto Larach, who currently operates multiple Denny’s locations in Honduras and Guatemala.
Denny’s executives express confidence in the brand's resilience amid the pandemic, highlighting the growth potential in the region.
Denny’s Corporation (NASDAQ: DENN) will report its financial and operational results for the fourth quarter and full year ending December 30, 2020, on February 16, 2021, after market closure. A conference call with senior management is scheduled for the same day at 4:30 p.m. ET to discuss the results. Denny's operates a significant number of franchised restaurants worldwide, with a total of 1,650 locations as of December 30, 2020. For more information, interested parties can access the live broadcast through Denny's Investor Relations website.
Denny’s Corporation (NASDAQ: DENN) reported preliminary fourth-quarter and fiscal year 2020 results, with domestic system-wide same-store sales down 31%. The company faced challenges due to COVID-19, leading to a revised Adjusted EBITDA estimate of $24-$26 million. Denny's opened 20 new restaurants but closed 73, ending with 1,650 units. The company also paid down $20 million of its revolving credit, maintaining $82 million in liquidity. Future growth is anticipated with the launch of two virtual brands focused on burgers and melts, expected in the first half of fiscal 2021.
Denny's Corporation (NASDAQ: DENN) will participate virtually in the 23rd Annual ICR Conference, holding investor meetings and presenting on January 11, 2021, at 1:30 p.m. Eastern Time. Investors can listen to a live audio webcast of the presentation on Denny's investor relations website, with a replay available afterward. Denny's is a prominent franchisor and operator of one of America's largest full-service restaurant chains, with 1,664 restaurants worldwide as of September 23, 2020, including locations in Canada, Puerto Rico, and several countries across various continents.
Denny’s Corporation (NASDAQ: DENN) has amended its credit facility, enhancing financial flexibility amid the pandemic. The commitment is now $375 million, with certain financial covenants waived through March 31, 2021. Following this period, more favorable covenant levels will be implemented in fiscal Q2 and Q3 of 2021. As of November 18, 2020, Denny’s had $215 million outstanding on the facility, showcasing an effort to align with a conservative leverage strategy, as stated by CFO Robert Verostek.
Denny's Corporation (NASDAQ: DENN) announced its participation in the virtual Stephens 2020 Annual Investment Conference on November 18, 2020, at 4:00 p.m. ET. Mark Wolfinger, President, will present during the event, which investors can access via a live audio webcast on the company’s Investor Relations website. A replay will be available post-event. As of September 23, 2020, Denny's operates 1,664 restaurants globally, making it one of America's largest franchised full-service restaurant chains.
Denny's Corporation (NASDAQ: DENN) reported third-quarter results for the period ending September 23, 2020, amid the ongoing COVID-19 pandemic. Total operating revenue was $71.6 million, down from $124.3 million year-over-year. Domestic same-store sales decreased by 33.6%. Net income was $6.5 million, or $0.10 per diluted share, compared to $49.1 million, or $0.80 per diluted share, last year. Despite challenges, the company saw sequential sales improvement and emphasized its focus on health, safety, and operational innovations. The outlook for the remainder of 2020 projects same-store sales recovery between 70% and 75% of prior year levels.
Denny’s Corporation (NASDAQ: DENN) will release its financial results for Q3 2020 on October 27, 2020, after market close. A conference call with senior management will follow at 4:30 p.m. ET to discuss these results and answer questions. Interested parties can listen to the live broadcast on Denny's investor relations website. As of June 24, 2020, Denny’s operates 1,683 restaurants worldwide, including locations in Canada, Puerto Rico, Mexico, and several other countries. For more information, visit their investor relations site.
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