Dennys Stock Price, News & Analysis
Company Description
Denny’s Corporation (NASDAQ: DENN) is one of America’s largest full-service restaurant brands based on the number of restaurants. The company is a Spartanburg, South Carolina–based family dining restaurant brand that has been welcoming guests to its booths for more than 70 years. Through the Denny’s brand and the Keke’s Breakfast Cafe brand, the company focuses on serving craveable meals at a meaningful value across breakfast, lunch, dinner, and late night.
Business model and restaurant footprint
Denny’s Corporation operates a primarily franchised business model. According to company disclosures, as of September 24, 2025 the company consisted of 1,537 restaurants, of which 1,452 were franchised and licensed restaurants and 85 were company-operated. The Denny’s brand accounted for 1,459 global restaurants, with 1,397 franchised and licensed and 62 company-operated locations. The Keke’s brand accounted for 78 restaurants, with 55 franchised and 23 company-operated locations.
The company states that Denny’s is one of the largest franchised full-service restaurant brands in the world based on the number of restaurants. Its global Denny’s footprint includes locations in the United States and in markets such as Canada, Costa Rica, Curacao, El Salvador, Guam, Guatemala, Honduras, Indonesia, Mexico, New Zealand, the Philippines, Puerto Rico, the United Arab Emirates, and the United Kingdom.
Brands: Denny’s and Keke’s Breakfast Cafe
The company’s operations are organized around two restaurant brands:
- Denny’s – Positioned as a family dining restaurant brand and often referred to as “America’s Diner” in company communications. Denny’s provides meals across all dayparts, including breakfast, lunch, dinner, and late night. The brand emphasizes comfort food, value-focused offerings, and the ability to order in-restaurant or through digital channels.
- Keke’s Breakfast Cafe – A Florida-born restaurant chain specializing in breakfast, brunch, and lunch. Keke’s is described as a neighborhood breakfast destination known for freshly prepared, made-to-order classics, including pancakes, waffles, omelets, paninis, wraps, and other breakfast and lunch items. Keke’s operates in states including Florida, California, Colorado, Georgia, Nevada, Tennessee, and Texas.
Products, services, and guest experience
Across its brands, Denny’s Corporation focuses on family dining and breakfast-oriented menus. Denny’s menu includes items such as pancakes, breakfast platters, burgers, sandwiches, and seasonal offerings. The company highlights value platforms like Slam® and Super Slam® meals and limited-time menus tied to holidays or partnerships.
The company also operates three virtual restaurant concepts under the Denny’s umbrella: The Meltdown, Banda Burrito, and The Burger Den. These concepts are referenced as part of Denny’s strategy to serve guests “whenever and however they want to order,” complementing its brick-and-mortar restaurants.
Denny’s has developed Denny’s on Demand, described as the first delivery platform in the family dining segment in its communications. This platform enables online ordering and delivery, expanding access beyond in-restaurant dining. The company also promotes a Denny’s Rewards loyalty program, where members can earn “Booth Bucks” for purchases and redeem them for menu items, as well as receive offers such as birthday rewards and special deals.
Franchising and revenue sources
According to company and third-party descriptions, Denny’s Corporation generates revenue from two primary sources:
- Company restaurant sales – Revenue from the sale of food and beverages at company-operated Denny’s and Keke’s locations.
- Franchise and license revenue – Royalties, advertising revenue, initial and other fees, and occupancy revenue from franchised and licensed restaurants.
The company’s financial disclosures distinguish between company restaurant sales and franchise and license revenue, and they report margins for each category. The company also notes that its strategy includes managing the mix of franchise and company-operated units, including selectively closing lower-volume franchised restaurants to improve brand health.
Digital, loyalty, and marketing initiatives
Denny’s Corporation highlights several initiatives aimed at strengthening brand relevance and guest engagement. For the Denny’s brand, management has referenced evolving value offerings, enhancing digital presence, and launching a new loyalty program. The company also engages in themed collaborations and limited-time promotions, such as holiday menus, branded merchandise, and partnerships tied to cultural events or characters.
The Denny’s Rewards program is a central part of its marketing, allowing members to earn points on purchases and redeem them for food and beverages. Company communications describe ongoing challenges and offers within the program, as well as exclusive deals and savings throughout the year.
Community and social impact
Denny’s emphasizes a longstanding commitment to supporting local communities and national causes. The company describes several initiatives, including:
- Mobile Relief Diner – A 53-foot mobile kitchen that travels to areas affected by natural disasters and to underserved communities, providing free hot meals. The company reports that this program has served more than 154,000 meals since its launch.
- Hungry for Education® scholarship program – A scholarship initiative through which Denny’s has awarded funds to students across the United States who propose ideas to help address childhood hunger in local communities.
- Partnerships with nonprofits – A 15-year partnership with No Kid Hungry, during which Denny’s reports having raised more than $14.5 million to support efforts to ensure children have access to nutritious meals. The company also notes a partnership with Cookies for Kids’ Cancer, focused on funding research for treatments for children facing cancer.
These efforts align with the company’s stated purpose to “feed people body, mind, and soul,” and they appear frequently in the company’s public communications and press releases.
Corporate structure and capital markets
Denny’s Corporation is incorporated in Delaware and trades on The Nasdaq Stock Market LLC under the symbol DENN, with its common stock having a par value of $0.01 per share. The company has a credit facility that was amended in October 2025, extending its maturity date and adjusting capacity and certain covenants, including restrictions on dividends and share repurchases.
On November 3, 2025, Denny’s Corporation announced that it had entered into an Agreement and Plan of Merger with Sparkle Topco Corp. and Sparkle Acquisition Corp., entities controlled by funds managed by affiliates of TriArtisan Capital Advisors LLC. Under this agreement, a subsidiary of Sparkle Topco Corp. will merge with and into Denny’s Corporation, and Denny’s will become a wholly owned subsidiary of the buyer. The merger agreement provides that each share of Denny’s common stock outstanding immediately prior to the effective time of the merger (other than certain excluded shares) will be converted into the right to receive cash consideration of $6.25 per share, subject to the terms and conditions of the agreement.
The company states that, upon completion of the merger, Denny’s common stock will cease to be publicly traded and will no longer be listed on Nasdaq. As of the latest filings and announcements provided, the transaction is expected to close subject to customary conditions, including stockholder approval and regulatory clearances. Until the merger is completed, Denny’s Corporation continues to operate as a public company and to file reports with the U.S. Securities and Exchange Commission.
Keke’s Breakfast Cafe within Denny’s Corporation
Keke’s Breakfast Cafe operates as a separate brand within Denny’s Corporation. Company and brand communications describe Keke’s as a neighborhood breakfast destination with a focus on fresh ingredients and made-to-order meals. The brand’s menu includes pancakes, waffles, omelets, paninis, wraps, and a catering offering, and it emphasizes a friendly, relaxed dining experience.
Keke’s has expanded beyond its Florida origins into markets such as California, Colorado, Georgia, Nevada, Tennessee, and Texas, with additional locations planned. Within Denny’s Corporation’s reporting, Keke’s contributes to company restaurant sales and franchise revenue, and management has highlighted Keke’s portfolio growth and guest satisfaction in discussing the company’s strategic initiatives.
Investor information
Denny’s Corporation provides investor information, including news releases, links to SEC filings, and financial data, through its investor relations channels. The company uses both GAAP and non-GAAP financial measures in its reporting and provides reconciliations and definitions for non-GAAP metrics such as adjusted EBITDA, adjusted net income, and adjusted operating margins. Management states that these measures are used internally to analyze operating performance and to provide additional context for investors.
Key characteristics for investors
- Sector and industry: Accommodation and Food Services sector, with a focus on food service and family dining restaurants.
- Brand portfolio: Denny’s and Keke’s Breakfast Cafe, plus virtual concepts The Meltdown, Banda Burrito, and The Burger Den.
- Franchise orientation: Majority of restaurants franchised or licensed, with a smaller base of company-operated units.
- Global footprint: Significant presence in the United States and a network of international Denny’s locations.
- Pending transaction: Agreement to be acquired by an investor group led by TriArtisan Capital Advisors LLC, after which Denny’s is expected to become a private company and its stock to be delisted from Nasdaq.