October 24, 2003 |
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.
July 11, 2003 |
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.
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.