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International House Of Pancakes

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CALIFORNIA | LOCAL
June 20, 2004 | Myrna Oliver, Times Staff Writer
Al Lapin Jr., entrepreneur and restaurateur who, along with younger brother Jerry, founded the International House of Pancakes in 1958 with a single eatery in Toluca Lake, has died. He was 76. Lapin died Wednesday at USC/Norris Cancer Center in Los Angeles of cancer, said his son Randy.
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BUSINESS
July 23, 2004 | Julie Tamaki, Times Staff Writer
IHOP Corp. reported a 60% drop in second-quarter profit Thursday and announced plans to shed nearly all remaining company-owned restaurants as part of its shift to a new expansion strategy. The Glendale-based chain of 1,167 family dining restaurants also raised its profit forecast for the remainder of the year. IHOP posted net income of $4.4 million, or 21 cents a share, compared with $11 million, or 51 cents, a year earlier. Excluding one-time charges of $8.
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BUSINESS
May 8, 1987
The executives were joined in the buyout by Kelso & Co. and other institutional investors. Terms of the leveraged buyout were not disclosed. The North Hollywood-based International House of Pancakes chain was acquired by Svido-Abwicklungsgesellschaft, a Zurich holding company representing several major banks, four years ago, when a past owner could not meet its debts. IHOP franchises and operates 452 International House of Pancakes Restaurants in 36 states, Canada and Japan.
CALIFORNIA | LOCAL
June 20, 2004 | Myrna Oliver, Times Staff Writer
Al Lapin Jr., entrepreneur and restaurateur who, along with younger brother Jerry, founded the International House of Pancakes in 1958 with a single eatery in Toluca Lake, has died. He was 76. Lapin died Wednesday at USC/Norris Cancer Center in Los Angeles of cancer, said his son Randy.
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
December 25, 1992 | From Times Staff and Wire Reports
Milwaukee IHOP to Settle in Patrons' Discrimination Suit: An International House of Pancakes restaurant and a group of black patrons who asserted that they were refused service have agreed to settle a lawsuit for $185,000. The patrons were locked out of a Milwaukee IHOP several times last Dec. 28, the lawsuit said. The restaurant has promised to ensure that employees are instructed to treat all customers "fairly and equally without regard to race," IHOP's attorney said.
BUSINESS
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.
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
November 19, 1991
IHOP Corp., the parent of the International House of Pancakes restaurant chain, said it plans to increase its size 25% by opening an additional 165 outlets over the next five years. The new restaurants, together with IHOP's plan for closing 45 existing outlets, would increase the size of IHOP's system to 620 restaurants. Glendale-based IHOP now has 500 restaurants in 36 states, Canada and Japan. IHOP operates 56 of the outlets, while the majority are run by its franchisees and licensees.
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
July 11, 2003 | Karen Robinson-Jacobs, Times Staff Writer
After launching its first national advertising campaign, IHOP Corp., parent of the International House of Pancakes chain, said Thursday that sales at restaurants opened at least a year jumped 4.8% in the second quarter. The same-store sales gain for the period ended June 30 was the highest quarterly boost in 10 years, the Glendale-based chain said. "The national advertising campaign started in January and that obviously has been of significant benefit," said Michael W.
BUSINESS
January 14, 2003 | Karen Robinson-Jacobs, Times Staff Writer
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.
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
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
April 8, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
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.
BUSINESS
July 11, 2003 | Karen Robinson-Jacobs, Times Staff Writer
After launching its first national advertising campaign, IHOP Corp., parent of the International House of Pancakes chain, said Thursday that sales at restaurants opened at least a year jumped 4.8% in the second quarter. The same-store sales gain for the period ended June 30 was the highest quarterly boost in 10 years, the Glendale-based chain said. "The national advertising campaign started in January and that obviously has been of significant benefit," said Michael W.
BUSINESS
May 21, 1991 | PATRICE APODACA, TIMES STAFF WRITER
Four years ago, IHOP Corp. in Glendale was bought out by management and investors affiliated with Kelso & Co., a New York investment banking firm founded by the late Louis Kelso, the pioneer of employee stock ownership plans. IHOP, which owns, operates and franchises the flapjack-flipping International House of Pancakes restaurants, was unprofitable at the time.
BUSINESS
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.
BUSINESS
March 22, 1994 | DON LEE, TIMES STAFF WRITER
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.
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