IHOP Corp. (IHP) Same Store Sales Increased 3.7%
IHOP Corp. (NYSE: IHP) reported same-store sales results for the first quarter ended March 31, 2008 for its wholly owned IHOP and Applebee's business units. For the first quarter 2008, IHOP's system-wide same-store sales increased 3.7%, and Applebee's system-wide domestic same-store sales increased 0.5%.
Applebee's system-wide domestic same-store sales for the first quarter 2008 increased 0.5%. Domestic franchise restaurant same-store sales were flat for the first quarter 2008. Company restaurant same-store sales increased 2.1% for the first quarter 2008, which reflected a higher average guest check and declines in guest traffic. As of March 31, 2008, there were 1,986 Applebee's restaurants operating system-wide in 49 states, 17 international countries, and one U.S. territory, of which 511 were company-owned.
IHOP Corp. reiterated its expectations of producing system-wide same-store sales growth at IHOP in the range of 2% to 4% for fiscal 2008, and system-wide same-store sales growth at Applebee's in the range of 1% to 2% for fiscal 2008. [JT]
Applebee's system-wide domestic same-store sales for the first quarter 2008 increased 0.5%. Domestic franchise restaurant same-store sales were flat for the first quarter 2008. Company restaurant same-store sales increased 2.1% for the first quarter 2008, which reflected a higher average guest check and declines in guest traffic. As of March 31, 2008, there were 1,986 Applebee's restaurants operating system-wide in 49 states, 17 international countries, and one U.S. territory, of which 511 were company-owned.
IHOP Corp. reiterated its expectations of producing system-wide same-store sales growth at IHOP in the range of 2% to 4% for fiscal 2008, and system-wide same-store sales growth at Applebee's in the range of 1% to 2% for fiscal 2008. [JT]
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