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✓ Published: 10-May-2024
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✓ Published: 10-May-2024
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Applebee's and IHOP owner Dine Brands thinks deals can attract fast food customers frustrated by high menu prices. Full-service restaurants, fast food chains, and home cooking compete for fewer dining dollars as consumers pull back spending. Dine Brands CEO says their $10 burger is better quality than a $10 burger from a paper bag. Lower-income customers under $50,000 make up to 50% of Dine's business but are visiting less and spending carefully. Dine reiterated full-year guidance as first-quarter earnings missed estimates.
Applebee's and IHOP owner Dine Brands thinks deals can attract fast food customers frustrated by high menu prices. Full-service restaurants, fast food chains, and home cooking compete for fewer dining dollars as consumers pull back spending. Dine Brands CEO says their $10 burger is better quality than a $10 burger from a paper bag. Lower-income customers under $50,000 make up to 50% of Dine's business but are visiting less and spending carefully. Dine reiterated full-year guidance as first-quarter earnings missed estimates.
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