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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 announce its financial and operating results for the fourth quarter and full year ended December 28, 2022, on February 13, 2023, after market close. A conference call led by senior management will take place at 4:30 p.m. ET to discuss the results and address questions. As of December 28, 2022, Denny's operates 1,656 restaurants, with a large majority being franchised. The Denny's brand includes 1,602 global restaurants, while Keke's has 54.
For further details, visit the investor relations section of their website.
Denny's Corporation (NASDAQ: DENN) reported preliminary results for Q4 and fiscal year ended December 28, 2022, showing a 2.0% growth in same-restaurant sales year-over-year. Company restaurants led with a 6.0% increase, while franchised restaurants rose 1.7%. The fiscal year saw a 6.3% growth in overall same-restaurant sales. In 2022, Denny's opened 30 new restaurants but closed 66, finishing with 1,656 total locations. The company allocated $7.8 million to share repurchases and reaffirmed Q4 guidance, anticipating same-restaurant sales growth between 1% and 3%.
Denny's Corporation (NASDAQ: DENN) will participate in the 2023 Annual ICR Conference with a presentation scheduled for January 10, 2023, at 10:00 a.m. Eastern Time. The event will include investor meetings and can be accessed via a live audio webcast on the Company's Investor Relations website. A replay will be available for approximately 90 days post-event. As of September 28, 2022, Denny's operates 1,666 restaurants, including 1,613 Denny's locations and 53 Keke's restaurants, showcasing its significant presence in the full-service restaurant sector.
Denny's Corporation (NASDAQ: DENN) will participate in the Stephens Annual Investment Conference on November 17, 2022, in Nashville, Tennessee. Chief Financial Officer Robert Verostek will present at 1:00 p.m. Central Time. Investors can access a live audio webcast of the event on the Investor Relations section of the Company's website, with a replay available for 90 days post-event. As of September 28, 2022, Denny's Corporation operates 1,666 restaurants, including the Denny's and Keke's brands.
Denny's continues its tradition of honoring military personnel by offering complimentary Grand Slams on Veterans Day, November 11, 2022. The promotion is available from 5 a.m. to noon at participating locations for active, non-active, and retired military with a valid ID or DD 214. Denny's President John Dillon emphasized gratitude towards veterans for their service. The Grand Slam includes pancakes, bacon, sausage, and eggs. For more details and to locate participating restaurants, visit www.dennys.com.
Denny's Corporation (NASDAQ: DENN) reported a solid third-quarter performance for the period ending September 28, 2022. Total operating revenue increased by 13.2% to $117.5 million, with franchise and license revenue at $65.2 million. The acquisition of Keke's contributed to revenues, while domestic same-store sales rose by 1.5%. Net income reached $17.1 million, translating to $0.29 per diluted share. However, operating income fell to $15.8 million from $17.7 million, impacted by inflation and legal expenses. The company plans to maintain same-store sales growth guidance between 1% and 3% for Q4 2022.
Denny's has launched a new menu featuring meals created with TikTok influencers, marking the fourth installment of its Social Stars Influenced Menu. The new items, available for a limited time, include It's Bananas Salted Caramel Pancakes, Straight Up Bourbon Steak, and Yes, We Pecan! Salted Caramel Milkshake. This initiative aims to attract younger customers and has already sold 2.4 million meals since its debut in February 2022. Denny's continues to position itself as a value-driven brand while enhancing its cultural relevance.
Denny’s Corporation (NASDAQ: DENN) will announce its third-quarter financial results for the period ending September 28, 2022, on November 1, 2022, after market close. A conference call with senior management will follow at 4:30 p.m. ET to discuss the results and address questions. As of June 29, 2022, Denny’s operates 1,631 restaurants globally, including locations in Canada, Mexico, and more. This release highlights the company's commitment to transparency and investor engagement.
Denny's has launched its Hungry for Education™ Scholarship Program, aimed at supporting students from Historically Black Colleges and Universities and Hispanic Association of Colleges and Universities. The program includes a fall college tour across major U.S. locations starting on October 5, 2022, with scholarships totaling $340,000 available. Last year, Denny's contributed $10,000 to the Orange Blossom Classic Scholarship Fund and has awarded nearly $2 million in scholarships since 2011.
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