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[ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: NewtonMP2100
Date: August 11, 2017 06:29AM
....up to 160 [ the parent company is DineEquity ].......sales decline due to competition from other chains that offer more upscale and healthier foods [ Panera and Chipotle ]........ IHOPs near me have always had lines to eat there.......


As many as 160 Applebee's and IHOP locations to close

.....The parent company of Applebee's and IHOP plans to close up to 160 restaurants, vastly boosting the number of eateries from the two comfort-food chains that it plans to shutter.

Some 105 to 135 Applebee's restaurants will close, up from the 40 to 60 that parent DineEquity said would close in the first quarter. Also on the chopping block are an estimated 20 to 25 IHOP sites, up from about 18.

At the same time, the two chains now will open 125 restaurants globally between them in new locations, DineEquity said.

The casual-dining segment, where both chains are positioned, is experiencing increased troubles as more customers have gravitated to the quick-service restaurants like Panera Bread or Chipotle Mexican Grill, many of which market themselves as offering healthier and more upscale food.

Analysts say Applebee’s, in particular, has had a hard time.

Applebee’s "remains out-of-favor with casual-dining consumers....Sister concept IHOP may be feeling the effects of DineEquity’s struggles as well," said Instinet analyst Mark Kalinowski in a report released Friday.

But DineEquity officials say the painful job of closing restaurants will help in the long run.

"We are investing in the empowerment of our brands by improving overall franchisee financial health, closing underperforming restaurants and enhancing the supply chain," interim CEO Richard Dahl said in a statement.

He said Applebee's is in the middle if a "transitional year" and is "making the necessary investments for overall long-term brand health."

The company declined to release a list of locations that will be shuttered.

DineEquity reported net income of $20.9 million, or $1.18 a share, in the second quarter, a drop from $26.4 million, or $1.45 a share, compared to the same quarter last year.

Applebee's domestic system-wide comparable same-restaurant sales declined 6.2% in the second quarter of 2017, while IHOP's declined 2.6% during the same period, according to the company.

"IHOP remains on solid ground, despite soft sales this quarter. I am optimistic about the growth in both effective franchise restaurants and systemwide sales," Dahl said.

DineEquity reiterated its plan to open 20 to 30 Applebee’s, mostly abroad, and revised its plan to open 80 to 95 IHOP restaurants, mostly in the U.S. That's up from the 75 to 90 restaurants globally that it announced previously.

"Restaurant closures are a normal course of business in the industry and when you have a footprint as large as ours," Amy Mason, senior vice president for global communications and consumer insights, said. "They are either older locations in a lapsed trade area, where once vibrant retail, residential and traffic characteristics are no longer present; others are closed when they are underperforming with unsustainable economics. Closing these well-below average restaurants can have a positive brand benefit since guests are no longer experiencing a substandard experience."

On Thursday, the company also named Stephen Joyce, former CEO of Choice Hotels, as its new CEO. He replaces Julia Stewart, who resigned in February; she was at the helm when Applebee's as acquired in 2007.

DineEquity CFO Thomas Emrey resigned in March and no permanent replacement has been named.

The Glendale, Calif.-based company has 3,700-plus restaurants in 19 countries.



IHOP......to it..............?!



____________________________________________________

I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 08/11/2017 07:00AM by NewtonMP2100.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: TLB
Date: August 11, 2017 07:57AM
Used to visit IHOP for a splurge breakfast once a month. Last time I went I ordered poached eggs with my pancakes and got a dish with two raw eggs (guessing the cook forgot to whisk them in the hot water). Server didn't recognize the issue--she didn't know what poached eggs were-- and management didn't even offer an apology. That was a year ago, haven't been back.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: Mr645
Date: August 11, 2017 08:26AM
Kind of stopped going to Applebee's Just not a good value compared to other chains in the same space
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: Speedy
Date: August 11, 2017 08:32AM
Applebee's removed their 'riblets' from the menu and lost me as a customer.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: JoeH
Date: August 11, 2017 08:45AM
The food at Applebees failed to impress me at all, haven't been in one in years. Pricing was on the high side for the quality/quantity as well.

As for IHOP, they have already closed so many stores in this region that the closest one is nearly an hour drive to get to. I haven't been in one in decades.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: davemchine
Date: August 11, 2017 09:13AM
Applebees always makes me sick so I stopped going. Since then I've heard too many bad things about that place.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: rgG
Date: August 11, 2017 09:14AM
Don't go to Applebee's but I hope they don't close our IHOP which is right around the corner. It always seems busy, so maybe it will stay open.





Roswell, GA (Atlanta suburb)
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: robfilms
Date: August 11, 2017 09:15AM
is there a list of which restaurants will be closing?

there are local versions of each and i wonder if they will survive.

be well.

rob
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: JoeH
Date: August 11, 2017 09:21AM
Quote
robfilms
is there a list of which restaurants will be closing?

there are local versions of each and i wonder if they will survive.

be well.

rob

Apparently not yet. The article states that the parent company declined to provide one.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: billb
Date: August 11, 2017 09:21AM
Applebees was always our "lines are too long everywhere else" fall back on Friday night. The economy never really recovered here so there are rarely waiting lines anywhere any more and never more than 5 or 10 minutes.
With 19 IHOPs here in Ma there's no shortage of pancakes but I haven't been in one in ages and never been to the one that opened 2 miles away.



The Phorum Wall keeps us safe from illegal characters and words
The doorstep to the temple of wisdom is the knowledge of one's own ignorance. -Benjamin Franklin


BOYCOTT YOPLAIT [www.noyoplait.com]
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: JoeH
Date: August 11, 2017 09:24AM
19 in MA, but only one west of Worcester. There used to be several more, including one in the town I grew up in. That closed back in the '90's.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: jdc
Date: August 11, 2017 09:37AM
Last time I took my 2 kids to iHOP as a thing it was over $45 for the 3 of us -- even with 2 kids meals. I think it was $10 just for OJ.

Maybe 6 years ago... never been back.



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Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: mikebw
Date: August 11, 2017 10:10AM
Some of the very old IHOP restaurants in my area have closed, but the new ones which happen to be closer always seem busy. So much so in fact that we prefer driving farther away to an excellent waffle truck instead. Also making pancakes at home is easy and really cheap.

Applebees? Never thought too highly of the food, and better options closer to home mean I haven't been in ~10 years.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: vision63
Date: August 11, 2017 10:29AM
Quote
Speedy
Applebee's removed their 'riblets' from the menu and lost me as a customer.

Yeah. I liked those. Maybe they added 'em back?
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: billb
Date: August 11, 2017 10:38AM
Quote
vision63
Quote
Speedy
Applebee's removed their 'riblets' from the menu and lost me as a customer.

Yeah. I liked those. Maybe they added 'em back?

It's not like they have a menu online or anything.



The Phorum Wall keeps us safe from illegal characters and words
The doorstep to the temple of wisdom is the knowledge of one's own ignorance. -Benjamin Franklin


BOYCOTT YOPLAIT [www.noyoplait.com]
[soundcloud.com]

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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: Filliam H. Muffman
Date: August 11, 2017 11:58AM
There used to be an IHOP on University Avenue in Berkeley. It closed/moved something like 20 years ago? I went to that one several times growing up but probably only once after I got out of high school. It used to get a lot of business on the weekends or any time the hotels along University were busy. Now there are lots of foodie breakfast places to compete, so I can imagine they are having a tough time. I keep meaning to go to the local one to try it out but I never seem to be in the mood to make a special trip on my weekly cheat day.



In tha 360. MRF User Map
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: freeradical
Date: August 11, 2017 12:20PM
You can bounce a quarter off of the pancakes in IHOP.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: max
Date: August 11, 2017 12:59PM
Quote
freeradical
You can bounce a quarter off of the pancakes in IHOP.
Most of their business is done between 2 and 5 AM....
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: Uncle Wig
Date: August 11, 2017 02:54PM
I don't know why anybody would set foot in either of those. I had to eat at an IHOP on a road trip once, because we were hungry and didn't have time to find a local place (ok, maybe that's why you'd set foot). It was dreadful, and expensive.

Waffle House FTW.



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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: neophyte
Date: August 11, 2017 04:32PM
Around here, IHOPs are much better than Waffle House. The IHOPs are franchises, not corporate.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: Bill in NC
Date: August 12, 2017 07:25AM
I'd rather eat at a local Waffle House than any IHOP.

Eat there late enough and you get dinner AND a show!
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: jdc
Date: August 12, 2017 01:02PM
Closest waffle house is 2500 miles away.



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Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: [ no longer ] the BEE'S knees?!.....AppleBEE'S and IHOP closing restaurants.....
Posted by: AllGold
Date: August 12, 2017 05:49PM
Other than free food (comped) at a casino I go to, I eat at a sit-down restaurant so rarely that I don't even figure into the equation. I go right past an Applebees all the time but I haven't eaten there in at least half a dozen years. Probably twice that long for IHOP.



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