Denny's to close 150 of their restaurants

[samhexum]

On 5/22/2024 at 2:57 PM, pubic_assistance said:

I was a huge Denny's fan when I was young and poor.

But the last time I visited the breakfast was pretty piss-poor. I don't know HOW you fu*k up an omelette !!

Denny’s says it’s closing 150 of its lowest-performing restaurants in an effort to turn around the brand’s flagging sales.

About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors Tuesday. The locations weren’t revealed, but the restaurants represent around 10% of Denny’s total.

Stephen Dunn, Denny’s executive vice president and chief global development officer, said in some cases, the restaurants are no longer in good locations.

“Some of these restaurants can be very old,” Dunn said during the investor meeting. “You think of a 70-year-old plus brand. We have a lot of restaurants that have been out there for a very long time.”

Others saw traffic shifts during the pandemic that have yet to reverse, he said.

On Tuesday, Denny's reported its fifth straight quarter of year-over-year declines in same-store sales, which are sales at locations open at least a year.

Restaurant inflation is outpacing grocery price inflation, which makes it harder for some customers to justify eating out, Denny's said. And when they do eat out, they often head to fast-casual brands like Chipotle or fast-food chains. Denny's said family dining — the category in which it competes — has lost the most customer traffic since 2020.

Still, Denny's said it has bright spots, including a value menu that lifted sales in its most recent quarter and growing sales of its delivery-only brands like Banda Burrito.

Shares in Denny's Corp., which is based in Spartanburg, South Carolina, tumbled almost 18% on Tuesday.

[pubic_assistance]

21 minutes ago, samhexum said:

Stephen Dunn, Denny’s executive vice president and chief global development officer, said in some cases, the restaurants are no longer in good locations.

I definitely see that. Just off the top of my head I can think of several that have been around since the 1960s along suburban strips that have lost the majority of their Prime vendors to new and better locations further out in the spreading suburban regions. What's left over are muffler shops, "vape" stores, pawn shops and discount liquor warehouses. Management at Denny's seem to have felt that it was good strategy to stay put. Unfortunately the people who now populate the mid-burbs are increasingly poor and will hit McD's and Bojangles before they seek out a sit-down meal where they have to tip a waitress.

[Ali Gator]

The 71 year old 'diner chain' Denny's will be closing 50 locations by the end of this year, and another 100 locations by the end of next year. The company made the announcement this morning. That leaves 1,375 locations remaining.

Of those remaining, Denny's (once known for 'never closing their doors') will no longer be requiring their franchisees to stay open 24/7.  And the menu options will be shortened from 97 menu items to 47. 

Denny’s is closing 150 restaurants | CNN Business

WWW.CNN.COM

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Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours.

We've added two earlier posts that were made in the Red Lobster thread (!) to @Ali Gator's new thread on Denny's to keep discussion of the subject in one place.

[+ azdr0710]

26 minutes ago, Ali Gator said:

 And the menu options will be shortened from 97 menu items to 47. 

Denny’s is closing 150 restaurants | CNN Business

WWW.CNN.COM

---

Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours.

We've added two earlier posts that were made in the Red Lobster thread (!) to @Ali Gator's new thread on Denny's to keep discussion of the subject in one place.

I wonder if Moons Over My Hammy will survive.....

[+ PhileasFogg]

They have over 1,500 locations.  They’re closing 10%.  Areas change and demographics shift.   I wonder how many they opened.   Letting some close as areas change and leases expire is business as usual in my opinion. 

[caramelsub]

I always preferred Waffle House anyway…

[+ Lucky]

Will they be closing the gay ones, or just the straight ones?

[+ azdr0710]

17 hours ago, Lucky said:

Will they be closing the gay ones, or just the straight ones?

since many claim that 10% of the general population is gay or bi..............and the article states that 10% of the Denny's outlets are on the chopping block........well, I think we have our answer right there!  😉

[mike carey]

6 hours ago, azdr0710 said:

since many claim that 10% of the general population is gay or bi..............and the article states that 10% of the Denny's outlets are on the chopping block........well, I think we have our answer right there!  😉

Right there, that's scientific proof!!

[samhexum]

On 10/24/2024 at 12:35 PM, azdr0710 said:

since many claim that 10% of the general population is gay or bi..............and the article states that 10% of the Denny's outlets are on the chopping block........well, I think we have our answer right there!  😉

As @MysticMenace would say, YAY MATH!