Franchise PerformanceThe acquired 47 lower-AUV Applebee’s locations are currently not profitable at the gross margin level, and management expects it will take until the end of FY25 for this group of stores to be approaching breakeven.
Operating ResultsDine Brands reported 4Q24 operating results that lagged consensus expectations from a gross profit, AEPS, and AEBITDA standpoint.
Same-Store SalesApplebee’s SSS fell (4.7)% and IHOP SSS fell (2.8)%, with AEPS of $0.87 below consensus of $1.34 and AEBITDA of $50M missed a $58M expectation.