Denny’s plans to close 150 of its lowest-performing locations as part of a strategy to address declining sales. Approximately half of the closures will occur this year, with the remainder set for 2025. The brand has faced challenges with shifting customer traffic, especially post-pandemic, leading to five consecutive quarter declines in same-store sales. Restaurant inflation has outpaced grocery inflation, affecting dining out decisions, with customers increasingly choosing fast-casual and fast-food options. Shares fell nearly 18% following the announcement.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Denny's plans to close 150 of its lowest performing locations as part of a strategy
00:07to address declining sales. Approximately half of the closures will occur this year
00:11with the remainder set for 2025. The brand has faced challenges with shifting customer
00:16traffic, especially post-pandemic, leading to five consecutive quarters of declines in
00:21same-store sales. Restaurant inflation has outpaced grocery inflation affecting dining
00:27out decisions, with customers increasingly choosing fast-casual and fast-food options.
00:32Shares fell nearly 18 percent following the announcement.
00:35For all things money, visit Benzinga.com slash GSTV.