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Dine Brands hopes to boost sales this year with a wider swath of value meals and buzzier advertising after a rough 2024 for Applebee’s and IHOP.
“We had a soft year in 2024, which disappoints us, but we’re focused on improving that in 2025,” Dine Brands CEO John Peyton told CNBC. “We’ve got to have compelling messages and compelling promotions and compelling reasons to drive traffic into the restaurants.”
Dine on Wednesday reported fourth-quarter U.S. same-store sales dropped 4.7% at Applebee’s and 2.8% at IHOP, ending the year with four straight quarters of domestic same-store sales declines for its two flagship brands. Shares of Dine have fallen 50% over the last 12 months, dragging its market cap down to $386 million.
The company’s down year followed three years of strong growth for the company, driven by pent-up demand as diners returned to IHOP and Applebee’s after the…
