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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 (NASDAQ: DENN) reported Q2 2024 results, with total operating revenue of $115.9 million, down slightly from $116.9 million in Q2 2023. Domestic system-wide same-restaurant sales decreased by 0.6%. The company opened four new restaurants, including one Keke's location. Net income was $3.6 million, or $0.07 per diluted share, while adjusted net income per share was $0.13. Adjusted EBITDA stood at $20.3 million.
Despite outperforming BBI Family Dining same-restaurant sales, Denny's updated its 2024 guidance due to industry pressures. The company now expects domestic system-wide same-restaurant sales between -1% and 1%, and Adjusted EBITDA between $83 million and $87 million.
Denny's Inc. (NASDAQ: DENN) has announced two key executive appointments to strengthen its leadership team. Monigo G. Saygbay-Hallie, Ph.D. will join as Executive Vice President and Chief People Officer for Denny's on August 5, overseeing people initiatives across Denny's and Keke's Breakfast Café. With over 20 years of restaurant and retail experience, Saygbay-Hallie most recently served as Chief People Officer at Checkers & Rally's Drive-In restaurants.
Patty Trevino will assume the role of Senior Vice President and Chief Brand Officer for Denny's on August 12. Trevino brings two decades of restaurant industry experience, most recently as Executive Vice President and Chief Marketing Officer at Red Lobster. She will oversee all aspects of branding for Denny's restaurants, including strategy, marketing, and product innovation.
Both executives will report to Kelli Valade, Denny's Inc. President and CEO, who expressed confidence in their ability to contribute to the company's strategies and positively impact teams, franchisees, and guests.
Denny's (NASDAQ: DENN) has announced that it will release its second-quarter financial and operating results on July 30, 2024, after market close. The results will cover the quarter ending June 26, 2024. A conference call with senior management is scheduled for the same day at 4:30 p.m. Eastern Time to discuss these results and address any inquiries. The live broadcast of the call will be available on the company's Investor Relations website. For further questions, the Investor Relations Department can be contacted at 877-784-7167.
Denny's is introducing three new sandwiches on their Summer of Sandwiches LTO menu, available from June 26 to August 20.
The new offerings include the Spicy Brisket Melt, Sweet & Smoky BLT&E, and the Bacon Obsession Burger, each crafted to embody the flavors of summer.
These sandwiches are perfect for dine-in, carryout, or delivery via Denny's website or mobile apps.
Additionally, Denny's All-Day Diner Deals start at $5.99, offering a variety of breakfast classics and fan favorites.
Customers can also benefit from the Denny's Rewards loyalty program and the Kids Eat Free offer available every Tuesday from 4-10 PM with a $6 entrée purchase.
Find more details and place orders at www.dennys.com.
Denny's (NASDAQ:DENN) announced the appointment of Mark Vondrasek to its Board of Directors. Vondrasek, with over 20 years in hospitality and roles at Fidelity Investments and Kemper Financial Services, brings extensive experience. Brenda J. Lauderback, chair of the board, emphasized his strategic insights and leadership. Vondrasek has held significant positions at Hyatt and Starwood Hotels and Resorts, focusing on loyalty, digital/mobile, sales, revenue management, and partnership marketing. He joins a diverse board committed to enhancing guest experience and brand elevation for Denny's and Keke's.
Denny's (NASDAQ: DENN) will participate in the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference on June 10, 2024. CEO Kelli Valade will present at 9:45 a.m. ET, and the Company will hold investor meetings during the event. A live audio webcast of the presentation will be available on Denny's Investor Relations website, with a replay accessible for about 90 days post-event. The latest investor presentation can also be found in the Events and Presentations section of the website.
Denny’s (NASDAQ: DENN) announced a $3.3 million investment in its new Community initiative, partnering with 14 civic and educational organizations, including the NAACP and HACR.
Launched to address societal concerns and promote diversity, the initiative will focus on five pillars: human and civil rights, business diversity, education, community involvement, and inclusive leadership.
Key actions include providing scholarships, serving meals via the Denny's Mobile Relief Diner, and supporting business diversity through partnerships with minority-focused organizations.
The initiative was unveiled at a press conference with Denny’s CEO Kelli Valade and other leaders, emphasizing the company's long-term commitment to equity and inclusion.
Denny's reported first-quarter 2024 results, highlighting a decrease in total operating revenue compared to the previous year. The company saw a decline in domestic same-restaurant sales, but remains optimistic about upcoming sales driving initiatives. Adjusted net income and EBITDA were also reported.
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