Applebee's Int'l (APPB) Reports Decline in November Same-Store Sales
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Applebee's International, Inc. (Nasdaq: APPB) reported comparable sales for the four-week period ended November 19, 2006.
System-wide domestic comparable sales decreased 3.1% for the November period, and comparable sales for domestic franchise restaurants decreased 3.0%. Comparable sales for company restaurants decreased 3.1%, reflecting a decrease in guest traffic of between 3.0-3.5%, combined with an approximately flat average check.
The average check was flat as company restaurants lapped a menu price increase of approximately 1.0% as well as a higher-priced promotion during the final two weeks of the November 2005 period.
System-wide domestic comparable sales decreased 3.1% for the November period, and comparable sales for domestic franchise restaurants decreased 3.0%. Comparable sales for company restaurants decreased 3.1%, reflecting a decrease in guest traffic of between 3.0-3.5%, combined with an approximately flat average check.
The average check was flat as company restaurants lapped a menu price increase of approximately 1.0% as well as a higher-priced promotion during the final two weeks of the November 2005 period.
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