Bloomin' Brands and Dine Brands report higher first-quarter revenue
Updated
Updated · The Wall Street Journal · May 6
Bloomin' Brands and Dine Brands report higher first-quarter revenue
10 articles · Updated · The Wall Street Journal · May 6
Bloomin' shares jumped 36% to $7.82, while Dine rose 6% after Outback owner Bloomin' posted 0.9% comparable-sales growth and maintained its full-year outlook.
Dine said Applebee's same-restaurant sales rose 1.9% and IHOP was flat, but adjusted earnings of 88 cents a share missed Wall Street expectations.
Both chains said value deals, menu changes and operational improvements kept diners spending despite 4.6% commodity inflation, high beef and labour costs, and cautious consumers.
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