Dine Brands reports $184m in Q2 total revenues

3rd August 2018 (Last Updated August 3rd, 2018 14:43)

US-based restaurant operator Dine Brands Global has reported total revenues of $184.47m for the second quarter ending 30 June, compared with $188.65m for the same period last year.

Dine Brands reports $184m in Q2 total revenues
Dine Brands operates Applebee’s Neighborhood Grill & Bar. Credit: Anthony22 at Wikipedia.

US-based restaurant operator Dine Brands Global has reported total revenues of $184.47m for the second quarter ending 30 June, compared with $188.65m for the same period last year.

Owning brands such as Applebee’s Neighborhood Grill & Bar and IHOP brands, the company also reported gross profits of $78.59m, compared with $93m during the previous year.

Dine Brands’ net income was $12.71m, compared to their second-quarter net income of $22.10m last year.

Dine Brands global chief executive officer Steve Joyce said: “Applebee’s and IHOP’s domestic same-restaurant sales increased 5.7% and 0.7%, respectively. Positive sales momentum for both brands continued into the second quarter.”

The company’s Applebee brand domestic system-wide comparable same-restaurant sales also increased by 5.7% while its IHOP brand reported a 0.7% increase in domestic system-wide comparable same-restaurant sales for the second quarter of 2018.

“The execution of our strategic growth plans over the past year are producing meaningful results.”

Joyce added: “I am pleased to report that for the third consecutive quarter, both Applebee’s and IHOP outperformed their respective categories based on sales and traffic. The execution of our strategic growth plans over the past year are producing meaningful results.

“Applebee’s achieved its highest quarterly domestic sales increase in over a decade. Additionally, IHOP successfully launched its all-new Ultimate Steakburgers platform, further establishing the brand as a destination beyond breakfast.

“We also recently announced that IHOP will be introduced in South America for the first time through an agreement with a new franchisee to open 25 restaurants in Peru over the next ten years.”

In the first six months of fiscal 2018, Applebee’s domestic system-wide comparable same-restaurant sales increased by 4.5%.

Additionally, IHOP’s domestic system-wide comparable same-restaurant sales were up by 0.9% for the first six months of this year.