Applebee's International Reports November Comparable Sales

Applebee's International Reports November Comparable Sales

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Nov. 28, 2007--Applebee's International, Inc. (Nasdaq:APPB) today reported comparable sales for the four-week period ended November 25, 2007.

System-wide domestic comparable sales decreased 1.6 percent for the November period, and comparable sales for domestic franchise restaurants decreased 1.3 percent. Comparable sales for company restaurants decreased 2.3 percent, reflecting a decrease in guest traffic of between 3.0 and 3.5 percent, combined with a higher average check.

System-wide domestic comparable sales for the quarter-to-date period through November (eight weeks) have decreased 1.5 percent, with domestic franchise restaurant comparable sales down 1.5 percent and company restaurant comparable sales down 1.7 percent.

As previously announced, on July 15, 2007, IHOP Corp. ("IHOP") and Applebee's International, Inc. ("Applebee's") entered into a definitive agreement under which IHOP will acquire Applebee's for $25.50 per share in cash, representing a total transaction value of approximately $2.1 billion. The transaction is expected to close on November 29, 2007, subject to satisfaction or waiver of additional customary closing conditions set forth in the merger agreement.

Applebee's International, Inc., headquartered in Overland Park, Kan., develops, franchises and operates restaurants under the Applebee's Neighborhood Grill & Bar brand, the largest casual dining concept in the world. As of November 25, 2007, there were 1,965 Applebee's restaurants operating system-wide in 49 states, 17 international countries, and two U.S. territories, of which 510 were company-owned. Additional information on Applebee's International can be found at the company's website (www.applebees.com).


SOURCE:
Applebee's International, Inc.

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

ProSource Wholesale
ProSource is America's largest wholesale home improvement franchise; a truly unique B2B franchise model. Our owners enjoy strong cash flow with...
Huddle House
Everyone knows a House is a good investment! Huddle House is a full service restaurant, serving delicious meals, cooked to order...
Eat The Frog Fitness
As an Eat The Frog Fitness Franchisee you will own a business with great potential in the growing $35 billion dollar fitness industry.
Saladworks
Saladworks leads the exploding fast-casual salad space, with nine consecutive quarters of positive same-store sales growth through 2017. America's...
Sonic Drive-In
Here's your chance to own a SONICĀ® Drive-in Franchise Restaurant. As the nation's largest drive-in chain, SONICĀ® has successfully served up hot,...
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.