Dine Brands sees tougher times ahead for Applebee’s

Coming off a second consecutive quarter of same-store sales declines for Applebee’s, parent Dine Brands Global has lowered its expectations for the chain’s top line performance during the remainder of 2019 and raised its forecast of how many units will close by year’s end.

The company now expects comps for casual dining’s sales and unit count leader to be flat or down as much as 1% for the fourth quarter, compared with a previous projection of same-store sales rising by up to 1.5%. Applebee’s same-store sales for Q3 declined 1.6%.

Thirty to 40 restaurants could close before the end of 2019, compared with earlier guidance of 20 to 30 units, the company said……Read More