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Overview of Denny's Corporation
Denny's Corporation (NASDAQ: DENN) is a leading player in the full-service restaurant industry, renowned for its iconic brand, 'America's Diner.' Headquartered in Spartanburg, South Carolina, Denny's operates a global network of restaurants, offering a welcoming, 24/7 dining experience. With a history spanning over 70 years, the company has established itself as a cornerstone of the family dining segment, serving an extensive menu that includes breakfast, lunch, dinner, and late-night options.
Business Model and Revenue Streams
Denny's operates under a predominantly franchised business model, with the majority of its restaurants owned and operated by franchisees. Revenue is generated through two primary channels:
- Company-Owned Restaurants: Income from the sale of food and beverages at company-operated locations.
- Franchise Operations: Royalties, advertising fees, and initial franchise fees collected from franchisees. Additional revenue is derived from occupancy fees and other services provided to franchise partners.
This dual revenue model allows Denny's to balance operational control with the scalability benefits of franchising.
Global Presence and Market Position
As one of the largest full-service restaurant chains globally, Denny's boasts a footprint that spans multiple continents. While the United States and Canada account for the majority of its revenue, the company has a presence in countries such as Mexico, the United Kingdom, Indonesia, and New Zealand. This international reach underscores its adaptability to diverse markets and consumer preferences.
Competitive Landscape
Denny's operates in the highly competitive family dining segment, facing rivals like IHOP, Cracker Barrel, and local diner chains. Its differentiation lies in its 24/7 operating model, value-driven menu options, and a strong emphasis on comfort and accessibility. The company's ability to offer consistent quality across a wide range of menu items further strengthens its competitive position.
Strategic Initiatives
Denny's continues to innovate and adapt to changing market dynamics. Key initiatives include:
- Digital Transformation: The 'Denny's on Demand' platform enables online ordering and delivery, catering to the growing demand for convenience.
- Virtual Brands: Concepts like Banda Burrito and The Burger Den expand the company's reach into off-premise dining channels.
- Franchise Development: Strategic expansion of the Keke's Breakfast Café brand, targeting breakfast-focused consumers.
- Restaurant Remodels: Investments in modernizing existing locations to enhance guest experiences and drive traffic.
Operational Challenges
Like many in the restaurant industry, Denny's faces challenges such as labor cost inflation, supply chain disruptions, and evolving consumer preferences. The company's focus on value and operational efficiency helps mitigate these pressures.
Conclusion
Denny's Corporation stands out as a resilient and adaptive player in the family dining sector. Its franchised business model, global presence, and commitment to innovation position it as a significant entity in the restaurant industry. By balancing tradition with modernity, Denny's continues to uphold its reputation as 'America's Diner.'
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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