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BUSINESS
January 24, 2007 | From Bloomberg News
IHOP Corp., the operator of more than 1,300 pancake restaurants in the U.S. and Canada, debuted in Mexico on Tuesday with a store in Monterrey. Franchisee Junior Foods will add five other restaurants in Mexico over the next four years, IHOP said. IHOP will open in St. Thomas in the U.S. Virgin Islands in two weeks, the Glendale-based company said. The openings are the first outside the U.S. and Canada since IHOP changed its business model in 2003.
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BUSINESS
August 18, 2001 | Bloomberg News
IHOP Inc., owner of the International House of Pancakes restaurant chain, said it hired Salomon Smith Barney Inc. to explore options and consider a major shareholder's suggestion to securitize some receivables. Southeastern Asset Management Inc., IHOP's largest shareholder, said in a Securities and Exchange Commission filing in May that the company should sell or refinance $287 million of loans made to franchisees.
BUSINESS
February 27, 2004 | From Dow Jones/Associated Press
IHOP Corp., the Glendale-based chain of pancake restaurants, Thursday attributed a 27% drop in fourth-quarter profit to the franchising of fewer company-developed outlets. Sales at restaurants open at least a year jumped 6% in the period ended Dec. 31, in part because of a stuffed crepes promotion, the company reported. IHOP reported profit of $8.8 million, or 41 cents a share, compared with $11.95 million, or 56 cents, in the year-earlier period.
BUSINESS
August 1, 2001 | JAMES F. PELTZ, TIMES STAFF WRITER
IHOP Corp. posted second-quarter earnings Tuesday that handily beat analysts' forecasts, but the parent of the International House of Pancakes chain also said it would consider a financial restructuring urged by its biggest stockholder. The Glendale-based concern said profit in the three months ended June 30 climbed 23% to $10.2 million, or 49 cents per diluted share, from $8.3 million, or 41 cents, a year earlier.
BUSINESS
June 21, 2002 | Marc Ballon
IHOP Corp. lowered its 2002 earnings estimate because of higher-than-expected costs related to consumer research programs, consulting fees and menu development. The Glendale-based operator of the International House of Pancakes chain said it now expects to earn between $1.99 and $2.12 a share, versus earlier guidance of between $2.10 and $2.22. "We're not broken," Chief Executive Julia A. Stewart said. "We're taking a proactive approach in our efforts to take [the company] to the next level."
BUSINESS
February 22, 2007 | From Reuters
Restaurant chain operator IHOP Corp. reported higher fourth-quarter earnings, helped by franchise restaurant openings. The company forecast 2007 earnings of $2.50 to $2.60 a share, based on expected same-store sales growth of 2% to 4% and the addition of as many as 66 restaurants. Fourth-quarter net income was $10.3 million, or 57 cents a share, compared with $10 million, or 53 cents, a year earlier, the company said.
BUSINESS
November 8, 1994
IHOP Corp., the Glendale developer and operator of pancake restaurants, said it had record earnings of $3.78 million for the third quarter that ended Sept. 30, up 9% from $3.46 million last year. Sales for the quarter were $37.3 million, down 2% from $38.2 million the previous year. For the nine months, the company said earnings were $9.73 million, up 55% from $6.2 million in the first nine months last year. Revenues for same period were $107.2 million, up 3% from $103.9 million.
BUSINESS
October 24, 2003 | Karen Robinson-Jacobs, Times Staff Writer
Increased lunch and dinner sales helped IHOP Corp. post a 12% gain in third-quarter profit, the Glendale-based restaurant chain said Thursday. The parent of the International House of Pancakes restaurants -- best known for their bright blue roofs and breakfast offerings -- posted net income of $11 million, or 51 cents a share, topping Wall Street's estimate by 5 cents a share. A year ago, IHOP earned $9.8 million, or 46 cents a share. The latest quarterly earnings were reduced by a $1.
BUSINESS
August 25, 2007 | From Times Wire Services
IHOP Corp. received government approval for its planned $1.9-billion purchase of Applebee's International Inc. The Federal Trade Commission said it gave clearance for the acquisition to take place.
BUSINESS
November 8, 2007 | From Times Wire Services
IHOP Corp., the pancake chain that agreed to buy Applebee's International Inc. in July, said eight executives from the acquired firm would leave when the transaction was complete. The departures include Applebee's Chief Executive Dave Goebel and Chief Financial Officer Steve Lumpkin, Glendale-based IHOP said. IHOP agreed to buy Overland Park, Kan.-based Applebee's in July for $2.1 billion, and plans to convert most of the 500 company-owned restaurants to franchises to lower costs.
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