January 14, 2003 |
In a strategic shift, IHOP Corp. said Monday that it would stop financing development of franchised restaurants in its International House of Pancakes chain. The move is aimed at lowering company debt but also is expected to reduce revenue from franchising fees and cause earnings to drop by as much as 41 cents a share this year. IHOP shares fell $1.43, or 5.8%, to close at $23.34 on the New York Stock Exchange. That's a 36% drop from the 52-week high posted in April.
June 21, 2002 |
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."
August 18, 2001 |
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.
April 8, 1998 |
Never mind Planet Hollywood, Rainforest Cafe and those other "concept" restaurant chains that are struggling to live up to their hype--and their stockholders' expectations. The big returns these days are in flapjacks. IHOP Corp., which runs the decidedly un-trendy but familiar International House of Pancakes chain, is riding a two-year growth spurt that shows no sign of slowing and has investors cheering.
August 8, 1995
Glendale-based International House of Pancakes reported a rise in profits and sales for its second quarter ending June 30. The restaurant chain said profits increased about 10% to $4.1 million in the latest quarter, compared to $3.7 million during the second quarter in 1994. Quarterly sales increased 8% to $40 million, compared to $37 million during the same period in 1994. For the six-month period, profits dropped slightly to $5.85 million, compared to $5.95 million in 1994.
March 22, 1994 |
While many Valley-based businesses are reeling from the recession, a few are basking in record profits, thanks largely to places like Arkansas, Illinois and Maryland. Those are some of the states where four local companies--the Cheesecake Factory, International House of Pancakes, Superior Industries and Players International--have established restaurants, factories and riverboat casinos.