Denny's Corp (DENN) Prelim. Q4 Comps Increased 2.2%

Denny’s Corporation (NASDAQ: DENN), franchisor and operator of one of America's largest franchised full-service restaurant chains, today reported preliminary results for domestic same-store sales and restaurant openings and closings for its fourth quarter and fiscal year ended December 27, 2017.

Denny’s fourth quarter domestic system-wide same-store sales increased 2.2%, including a 2.2% increase at domestic franchised restaurants and a 2.1% increase at company restaurants. Fiscal year domestic system-wide same-store sales grew 1.1%, including 1.1% growth at domestic franchised restaurants and 1.0% growth at company restaurants. On a two-year basis, this represents 1.9% domestic system growth, comprised of 1.9% growth at domestic franchised restaurants and 2.1% growth at company restaurants.

In 2017, Denny’s opened 39 restaurants, including 7 international locations, bringing the total restaurant count to 1,735. This is the ninth consecutive year of positive net system growth for the brand. In addition, 250 remodels were completed during fiscal year 2017, including 3 at company restaurants.

Based on preliminary results, Denny’s is reiterating its full year 2017 guidance expectations for Adjusted EBITDA* of between $101 and $103 million and Adjusted Free Cash Flow* of between $48 and $50 million provided with the Company’s third quarter 2017 results announced on November 1, 2017. Denny’s expects to release financial and operating results for its fourth quarter and fiscal year ended December 27, 2017 along with annual guidance for 2018 after the market closes on Tuesday, February 13, 2018.

*The Company is not able to reconcile the forward-looking non-GAAP estimates set forth above to their most directly comparable GAAP estimates without unreasonable efforts because it is unable to predict, forecast or determine the probable significance of the items impacting these estimates, including gains, losses and other charges, with a reasonable degree of accuracy. Accordingly, the most directly comparable forward-looking GAAP estimates are not provided.**Excludes 10 franchised restaurants acquired by the Company and 4 company restaurants acquired by franchisees.

Upcoming Investor Conference Presentation

Denny’s will be participating in the 20th Annual ICR Conference taking place at the JW Marriott Orlando Grande Lakes in Orlando, Florida. Denny’s presentation will take place on Tuesday, January 9, 2018, at 10:00 a.m. Eastern Time. Investors and interested parties may listen to a live audio webcast of the presentation which will be available online in the Investor Relations section of Denny's website at investor.dennys.com with a replay of the event webcast available following the live event. Investors and interested parties may access a copy of the presentation in the Events and Presentations section of Denny's website at investor.dennys.com.

You May Also Be Interested In

• LivePerson extends special meeting deadline for SoundHound AI merger vote
• Sky Harbour adds $10M via share sale to M-Cor Capital
• Albemarle names Max Hood as chief accounting officer