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Denny’s Corporation reports restaurant-brand developments tied to its family dining business, including value menus, seasonal meal promotions, gift card programs, delivery and digital ordering through Denny’s on Demand, and virtual restaurant concepts such as The Meltdown, Banda Burrito, and The Burger Den.
Company news also covers Keke’s Breakfast Cafe expansion, breakfast and brunch offerings, community programs such as the Mobile Relief Diner and No Kid Hungry fundraising, and corporate-status developments following Denny’s transition from a Nasdaq-listed public company to a wholly owned subsidiary after a completed merger.
Denny’s Corporation (NASDAQ: DENN) reported strong performance despite inflationary pressures, with Q2 2022 total operating revenue rising 8.3% to $115.0 million. Same-store sales increased 2.5%, and net income reached $23.0 million or $0.37 per diluted share. The company successfully repurchased $37.4 million of its stock, maintaining a focus on shareholder value. Denny’s also expanded its portfolio by acquiring Keke’s Breakfast Café, which is expected to enhance growth opportunities. However, challenges such as rising costs impacted profit margins.
Denny’s Corporation (NASDAQ: DENN) has successfully acquired Keke’s Breakfast Café for $82.5 million, utilizing cash and revolving credit. This acquisition includes certain assets and liabilities of Keke’s, which operates 52 restaurants in Florida. Denny’s aims to enhance shareholder value through this strategic expansion into the fast-growing A.M. Eatery segment. Keke’s will maintain its independent operations with its own leadership and marketing strategies. The acquisition is expected to provide significant growth opportunities for Denny's.
Denny's Corporation (NASDAQ: DENN) will release its financial results for the second quarter ended June 29, 2022, on August 2, 2022, after market close. Following this, management will hold a conference call at 4:30 p.m. ET to discuss the results and address questions. As of March 30, 2022, Denny’s operates 1,634 restaurants internationally, including locations in Canada, Puerto Rico, and several other countries. Investors can access the conference call live through Denny's Investor Relations website.
Denny's has joined the Pathways to Black Franchise Ownership program, partnering with the Multicultural Foodservice & Hospitality Alliance (MFHA). This initiative aims to create 100 Black-owned franchises by 2023, addressing the current discrepancy where only 8% of franchise owners are African American. Denny's has a long commitment to diversity, having invested over $2 billion in underrepresented suppliers since 1993. This partnership will provide training and support to aspiring Black entrepreneurs, promoting equity and inclusion in the restaurant industry.
Denny's Board Chair, Brenda Lauderback, is set to receive the President's Lifetime Achievement Award from the White House on May 9, 2022, at the Gibbes Museum of Art in Charleston, South Carolina. This prestigious award honors individuals who have dedicated over 4,000 hours of volunteer service to their communities. Presenting the award will be Congressman James E. Clyburn and Charleston Mayor John Tecklenburg. Lauderback has been recognized for her significant contributions to community service, underscoring her influence in both corporate and civic arenas.
Denny’s Corporation (NASDAQ: DENN) reported a strong first quarter with total operating revenue rising by 28.0% to $103.1 million, driven by recovery post-COVID-19. The company announced a definitive agreement to acquire Keke's Breakfast Cafe for $82.5 million, aiming to expand its presence in the fast-growing A.M. eatery segment. Net income stood at $21.9 million, or $0.34 per diluted share, while Adjusted EBITDA reached $17.7 million. Despite challenges, same-store sales grew 23.3% compared to last year, reflecting improved consumer sentiment.
Denny’s Corporation (NASDAQ: DENN) has appointed Kelli Valade as Chief Executive Officer and President, effective June 13, 2022. She succeeds John Miller, who is retiring on August 3, 2022, along with President Mark Wolfinger, effective June 1, 2022. Valade, a seasoned restaurant industry leader, has extensive experience in operational efficiency and strategic growth from her previous roles at Brinker International and Red Lobster. The Board expressed confidence in her ability to enhance the Denny’s brand and drive long-term shareholder growth.
Denny's Corporation (NASDAQ: DENN) will announce its financial results for Q1 2022 on May 3, 2022, after market close. The announcement will be followed by a conference call at 4:30 p.m. Eastern Time to discuss the results. Denny's, a leading full-service restaurant chain, operates 1,640 franchised and company restaurants worldwide, with a presence in multiple countries including Canada, Mexico, and the Philippines. Investors can access the live call through the Investor Relations section of Denny's website.
Denny's has launched its Endless Breakfast promotion, offering unlimited pancakes, scrambled eggs, and hash browns starting at $6.99 until June 21. This initiative aims to provide value amid rising inflation affecting consumers. Chief Brand Officer John Dillon emphasized that the promotion aligns with Denny's commitment to quality food at affordable prices. Customers can also add unlimited bacon or sausage for an additional $.99. The campaign is part of Denny's broader Open for Anything initiative, which promotes inclusivity and value dining.
Denny's is promoting free delivery services from March 17 to March 20, 2022, during the March Madness event. Customers can order via the new Denny's apps or website, allowing them to enjoy meals without leaving their homes. Signature offerings include the Get That Cookie Dough Pancakes, Jala-Bac Burger, and Clearly Very Fruity Pancakes, all part of the Limited Time Offer menu. Denny's operates one of America's largest restaurant chains with over 1,640 locations worldwide.