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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 Endless Breakfast promotion, offering unlimited pancakes, scrambled eggs, and hash browns starting at $6.99 until June 21. This initiative aims to provide value amid rising inflation affecting consumers. Chief Brand Officer John Dillon emphasized that the promotion aligns with Denny's commitment to quality food at affordable prices. Customers can also add unlimited bacon or sausage for an additional $.99. The campaign is part of Denny's broader Open for Anything initiative, which promotes inclusivity and value dining.
Denny's is promoting free delivery services from March 17 to March 20, 2022, during the March Madness event. Customers can order via the new Denny's apps or website, allowing them to enjoy meals without leaving their homes. Signature offerings include the Get That Cookie Dough Pancakes, Jala-Bac Burger, and Clearly Very Fruity Pancakes, all part of the Limited Time Offer menu. Denny's operates one of America's largest restaurant chains with over 1,640 locations worldwide.
Denny's has launched its annual fundraiser, Dine with a Purpose, running from March 8 to April 6, 2022. Guests can round up their checks or donate $3 to Cookies for Kids' Cancer. Since 2011, Denny's has raised over $700,000 for pediatric cancer research, with its franchise owners leading this initiative. The partnership aims to support new treatments for children with cancer, highlighting the alarming statistic of 43 kids diagnosed daily in the U.S. Denny's commitment to community health continues through this annual effort.
Denny's Corporation (NASDAQ: DENN) reported a 34.4% increase in Q4 2021 revenue to $107.6 million, driven by COVID-19 recovery. Net income reached $43.5 million ($0.67 per diluted share), significantly up from $2.4 million the previous year. The company opened seven franchised restaurants and completed seven remodels. For 2021, total operating revenue rose 38% to $398.2 million, with net income of $78.1 million ($1.19 per diluted share). Despite decreased same-store sales compared to 2019, domestic sales improved in late 2021, with ongoing strategic initiatives to enhance brand performance.
Denny’s Corporation (NASDAQ: DENN) will release its financial and operating results for the fourth quarter and full year ending December 29, 2021, on February 15, 2022, after market close. Following this, a conference call will be held at 4:30 p.m. Eastern Time for management to discuss the results and answer questions. Denny’s operates one of America's largest full-service restaurant chains, with 1,640 locations worldwide as of December 29, 2021.
Denny’s Corporation (NASDAQ: DENN) has announced a partnership with REEF, the largest operator of virtual restaurants in North America, to enhance delivery options through virtual kitchens in metropolitan areas. This collaboration aims to expand Denny's reach, particularly in high-demand markets, by leveraging REEF's scalable delivery solutions. Denny's will offer signature menu items for delivery, including the Grand Slamwich and Double Berry Banana Pancakes. This strategic move marks Denny’s first collaboration with REEF as it seeks to grow its presence in the U.S. breakfast market.
Denny’s Corporation (NASDAQ: DENN) announced preliminary results for fiscal year 2021, reporting domestic system-wide same-store sales that exceeded pre-pandemic levels. The company opened 20 new units while closing 30, ending the year with 1,640 locations. Significant initiatives include a new partnership with REEF for delivery and a remodel restart program. Denny's allocated $30.6 million for share repurchases in 2021. For 2022, the company reiterated its guidance, expecting adjusted EBITDA between $84 and $86 million.
Denny’s Corporation (NASDAQ: DENN) will participate virtually in the 2022 Annual ICR Conference, holding investor meetings and presenting on January 11, 2022, at 10:30 a.m. Eastern Time. Investors can access a live audio webcast of the presentation on the Investor Relations section of Denny's website. A replay will be available afterward. Denny’s operates one of America’s largest full-service restaurant chains, with 1,647 restaurants globally as of September 29, 2021, including locations in Canada, Puerto Rico, and several other countries.
Denny's has launched a creative marketing campaign in collaboration with Warner Bros. Pictures, leveraging Twitch for a Matrix-themed streaming event. The December 21 activation, featuring streamer Hungrybox, accrued nearly 500,000 views and heightened engagement through special promotional offers, such as tickets to The Matrix Resurrections and Denny's gift cards. This initiative not only showcases Denny's commitment to digital transformation but also aims to boost user engagement via its mobile app. The campaign runs through January 4, 2022, aligning with the film's release.
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