Exciting news for the food lovers in Texas! There's a combo-store in town! Dine Brands, the parent company of restaurant chains like Applebee's, IHOP, and Fuzzy's taco shops, launched its pioneering Applebee's-IHOP combination restaurant in Seguin, Texas, a city near San Antonio, recently. Management disclosed in a conference call that the prime week's sales at this jointly-branded spot surpassed expectations, with nearly three times the revenue of its former outlets.
"While we anticipate the current grand performance to eventually moderate, we're optimistic about the strong start," stated Dine Brands CEO, John Peyton, in the call briefing, report by AlphaSense providing the transcript.
This innovative restaurant initiative, reminding of predecessor combinations such as 'KenTacoHuts' and partnered Dunkin' Donuts-Baskin-Robbins outlets, features food items from both Applebee's and IHOP menus. Plus, there are exclusive delicacies like Buffalo chicken omelet added to the mix.
Dine Brands' team revealed plans to launch up to 14 such dual-branded eateries in the current year. Despite Dine Brands' shares experiencing a dip of around 20% within the year, they seemed to bounce back on the Wednesday afternoon soon after they announced their latest financial results. The results indicated approximately level full-year same-restaurant sales growth for both the IHOP and Applebee's restaurants.