Posted on 10/23/2024 6:56:17 AM PDT by Diana in Wisconsin
Denny's says it's closing 150 of its lowest-performing restaurants in an effort to turn around the brand's flagging sales.
About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors Tuesday. The locations weren't revealed, but the restaurants represent about 10% of Denny's total.
Stephen Dunn, Denny's executive vice president and chief global development officer, said in some cases the restaurants are no longer in good locations. "Some of these restaurants can be very old," Dunn said during the investor meeting. "You think of a 70-year-old-plus brand. We have a lot of restaurants that have been out there for a very long time."
Others saw traffic shifts during the COVID-19 pandemic that have yet to reverse, he said.
On Tuesday, Denny's reported its fifth straight quarter of year-over-year declines in same-store sales, which are sales at locations open at least a year.
Restaurant inflation is outpacing grocery price inflation, which makes it harder for some customers to justify eating out, Denny's said. When they do eat out, they often head to fast-casual brands like Chipotle or fast-food chains. Denny's said family dining — the category in which it competes — lost the most customer traffic since 2020.
(Excerpt) Read more at channel3000.com ...
Hmm. I wonder how many of these restaurants were in good locations but are now plagued by dine and dashers?
Does anyone remember so many stores and restaurants closing during the Trump years?
Bad business model or bad economy?
Not really, no.
I’d say both.
If you pay attention you will see that there are loads of “hot” chicken or foreign food restaurants (middle eastern and Indian types) opening everywhere and for some reason people flock to them. Don’t they ever get tired of the burning on the way down and the way out?
Every Friday our office brings in lunch that we vote for, young goobers in my office constantly vote for this exotic crap over traditional American food (and I count Tex-Mex (like tacos) as American in this case) that only they eat. I stopped voting and attending.
It is always some curry based sh_t.
I must be REALLY old. remembering a time when many of the early denny’s used to be called SAMBO’S. the name was changed because of the “easily offended” or something like that.
Sambos changed to Perkins
I’m shocked!
I didn’t know they had this many locations left.
No. Actually, Trump saw a slight increase in retail businesses in my area, after a horrible slump under Obama. I live on the West side of Fort Worth, and shopping centers and strip malls are looking more and more like ghost towns.
We had a very popular Texas discount housewares retailer close its brick-and-mortar doors (they still have an online presence) about a year ago. They had been very popular with numerous outlets statewide. I knew then that things were far from normal.
Denny’s tends to be a barfly hangout in my neck of the woods. Maybe that lifestyle is falling out of favor?
Vegans don’t eat out so that’s killing them. How do you know someone is a Vegan? Just wait a minute, they’ll tell you.
Yes, I do. In 2020, over 110,000 restaurants closed. The vast majority closed permanently.
Bad economy and idiots successfully calling for a higher and higher minimum wage.
“Does anyone remember so many stores and restaurants closing during the Trump years?”
But, but, what if we did not have Bidenomics in place to soften the harsh blows?
There’s x-amount that people are willing to pay for a plate, coffee and juice, and we’ve gotten to a point where you might only want to stop there once a month at the most.
Big chains have a problem: they experience greater expenses in black areas, but cannot be caught charging more, because that would be racist. So they have to close.
The non-chain little places can charge according to costs, and can demand payment up front.
Plus more people are working from home, and it’s just easier and cheaper to microwave something from the freezer than go out.
People aren’t eating out.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.