Applebee's Owner Struggles with Competition, Consumer Pullback -- Market Talk

Dow Jones11-06

0800 ET - Traffic to the casual-dining sector has slowed this year, with Applebee's and IHOP owner Dine Brands Global experiencing that pullback. Applebee's same-store sales fell 5.9% in 3Q, and the metric fell 2.1% at IHOP. Dine Brands says that a highly promotional environment hurt its brands, and it will boost its value options more. Dine's adjusted EPS beats analysts' expectations on lower costs, and it reiterated its FY24 same-store sales expectations for its brands. Shares rise 2.5% in premarket trading. (heather.haddon@wsj.com; @heatherhaddon)

(END) Dow Jones Newswires

November 06, 2024 08:00 ET (13:00 GMT)

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