September 10, 2008 |
The sudden departure of the chief financial officer and key strategist of the Glendale company that owns the Applebee's and IHOP restaurant chains sent shares of DineEquity Inc. tumbling 26% on Tuesday. Late Monday, DineEquity said Thomas Conforti was leaving the firm immediately to pursue "other opportunities." He was replaced by Controller Greggory Kalvin while the restaurant chain conducts a search for a new CFO. The surprise resignation spooked investors. Shares of DineEquity plunged $6.20 to close at $17.77 on Tuesday.
December 30, 2013 |
An estimated 1 million people are expected to swarm into Times Square in New York City on New Year's Eve to watch the famed ball-drop in person. How many of them will end up at the Applebee's restaurant nearby is uncertain, but the price they'd pay for their attendance is no secret: The eatery is charging patrons $375 a head for its "NYE Extravaganza. " If you're younger than 12, your ticket would cost a mere $250. Same deal goes for the Applebee's off Broadway a few blocks away - the world's largest, according to its Facebook page.
January 17, 2012 |
The Supreme Court on Tuesday turned down an appeal from Applebee's International Inc., which is battling a lawsuit from more than 5,500 bartenders and servers accusing the restaurant chain of underpaying them. The high court declined to hear Applebee's case, which focuses on a practice in which restaurants pay employees reduced minimum wage by factoring in the extra boost provided by tips. Known as a “tip credit,” the practice is banned in states such as California and Minnesota but permitted in Missouri, where many of the plaintiffs work.
May 1, 2012 |
DineEquity Inc., the Glendale-based owner of IHOP Restaurants and Applebee's Neighborhood Grill & Bar, is making a heavy push toward franchising. More than 95% of the company's thousands of restaurants are now owned by entrepreneurs, DineEquity said Tuesday when it announced its first quarter earnings . The franchise model helps keep the company's balance sheet from wild swings, leading to a 5.5% boost in profit to $31.3 million, or $1.64 a share, from $29.7 million, or $1.53 a share during the same quarter a year earlier.
March 2, 2012 |
DineEquity Inc., the Glendale-based owner of the Applebee's and IHOP restaurant chains, had a strong fourth quarter after suffering a severe slump a year earlier. Several factors helped the recovery, including the company's increase in franchising, warmer weather that drew out more diners and remodeling efforts that have freshened up hundreds of Applebee's locations. Profit for the quarter that ended Dec. 31 jumped to $27.3 million, or $1.51 cents a share, compared with a loss of $58.1 million, or $3.33 cents a share, from the fourth quarter of 2010.
CALIFORNIA | LOCAL
December 30, 2010 |
Could pancake peace be at hand? The International House of Pancakes has dropped its trademark infringement lawsuit against a church, agreeing to resolve its dispute with the International House of Prayer out of court. On Dec. 21, the restaurant chain dismissed its case against the church, with its lawyers citing "ongoing mediation with the defendants," according to documents filed in federal court in Los Angeles. The restaurant chain sued the church in September, alleging it misappropriated IHOP trademarks with its website, ihop.