Denny's Corp (DENN) Q4 Comps Rose 4.7%

Denny's Corp (NASDAQ: DENN) reported preliminary results on domestic same-store sales and restaurant openings and closings for its fourth quarter and full year ended December 31, 2014.

Denny's fourth quarter domestic system-wide same-store sales grew 4.7%, comprised of a 4.6% increase at domestic franchised restaurants and 5.8% growth at company restaurants. In addition to growing system-wide same-store sales in 14 of the past 15 quarters, Denny's has achieved its fourth consecutive year of positive system-wide same-store sales and highest annual system-wide same-store sales growth since 2006.

In the fourth quarter 2014, Denny's opened 22 system restaurants. For the full year 2014, Denny's opened 38 restaurants, including six international locations, bringing the total restaurant count to 1,702. This is the sixth consecutive year of positive net system growth for the brand.

Based on preliminary results, Denny's is increasing its full year 2014 guidance ranges for Adjusted EBITDA* and Free Cash Flow* with Adjusted EBITDA* now expected to be between $80 million and $82 million and Free Cash Flow* now expected to be between $47 million and $49 million. Denny's expects to release financial and operating results for its fourth quarter and full year ended December 31, 2014 after the market closes on Wednesday, February 18, 2015.

* Please refer to the tables in the Third Quarter 2014 Earnings Release dated October 27, 2014 for non-GAAP financial reconciliations of net income to Adjusted EBITDA and Free Cash Flow.

** Includes the temporary closure and reopening of the company operated restaurant in Las Vegas.

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Deutsche Bank monitors UK auto sales as Chinese exports grow
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results