APPB Reports Comps; Guides Below Consensus

Applebee's International, Inc. (Nasdaq: APPB) said system-wide comparable sales increased 1.3 percent for the August period, and comparable sales for franchise restaurants increased 2.2 percent. Comparable sales for company restaurants decreased 1.5 percent, reflecting a decrease in guest traffic of 4.0 to 4.5 percent, combined with a higher average check.

Diluted earnings per share for fiscal year 2005 are now expected to be in the range of $1.33 to $1.40, versus the consensus of $1.46, with diluted earnings per share for the third quarter expected to be in the range of $0.32 to $0.35, versus the consensus of $0.38.

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