July 17, 2007 |
IHOP Corp. is betting $2.1 billion that it's got the recipe to get Applebee's restaurants cooking again: Own less, franchise more. The Glendale-based restaurant chain famous for its pancakes agreed Monday to acquire the much bigger Applebee's International Inc., whose casual restaurants cater to the lunch-and-dinner crowd.
June 14, 2007 |
Pancake chain IHOP Corp. might be about to toss Applebee's International Inc. onto its menu. The Glendale-based breakfast house, which has been trolling for an acquisition for several years, reportedly has offered more than $2 billion for Applebee's, a casual-dining restaurant chain. Both chains declined to comment, and Wall Street industry analysts were skeptical. The offer was reported Wednesday by Bloomberg News with no other details.
April 26, 2007 |
Glendale-based restaurant operator IHOP Corp. said first-quarter profit dropped more than 10% as results were hampered by financing costs. IHOP earned $11.3 million, or 63 cents a share, down from $12.6 million, or 68 cents, a year earlier. The company said it completed $200 million in securitized financing during the quarter, which decreased earnings per share by 7.4% because of a penalty for paying off older debt. First-quarter revenue climbed to $90.1 million from $88.
February 22, 2007 |
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.
February 1, 2007 |
IHOP Corp., the operator of more than 1,300 restaurants in the U.S. and Canada, plans to license some of its products to supermarkets and other retailers. The Glendale-based company is in final negotiations with a vendor to license its products in the U.S. this year to test their appeal, Chief Executive Julia Stewart said. She did not specify what items may be licensed.
January 24, 2007 |
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.
November 7, 2006 |
IHOP Corp., the Glendale-based operator of more than 1,200 pancake restaurants in the U.S. and Canada, said Monday that it was testing trans-fat-free oil as other restaurants begin making the switch to the more healthful ingredient. KFC, the home of Colonel Sanders Kentucky fried chicken, announced last week that it would start using oil without harmful trans fatty acids in the U.S. by April. KFC is following Wendy's International Inc.
August 5, 2006 |
IHOP Corp. said the Internal Revenue Service would let it write down the value of assets more quickly, reducing the company's tax bill for this year. The agreement will result in a $14.7-million increase in cash flow in the third and fourth quarters, although it will have no effect on net income, the Glendale-based restaurant chain said. * Also Walt Disney World in Orlando, Fla., is raising the price of a one-day, one-park ticket by $4 to $67, the second price increase this year.
July 27, 2006 |
Investors were expecting a little more syrup in the second-quarter earnings of Glendale-based restaurant chain IHOP Inc. Instead, they got less. IHOP's net income fell 14% to $10.3 million, or 56 cents a share, from $11.9 million, or 60 cents a share, during the same period a year earlier. Part of the decline resulted from a requirement that the company expense the value of $1.1 million in stock-based compensation for its executives. IHOP's revenue rose 3% to $85.1 million from $82.
April 27, 2006 |
IHOP Corp., which owns and franchises IHOP restaurants, said its first-quarter profit rose 25%, aided by higher franchise revenue, lower restaurant expenses and other costs. Results breezed past analyst estimates, sending shares of the Glendale-based company up 80 cents to $47.10. For the quarter ended March 31, IHOP reported net income of $12.6 million, or 68 cents a share, compared with $10.1 million, or 50 cents, a year earlier. Revenue rose 3.1% to $88.5 million.