Applebee's same-store sales continue to fall in November

Nation's Restaurant News, Dec 11, 2006

OVERLAND PARK, KAN. -- Applebee's International Inc., parent to the industry's largest casual-dining chain, reported a 3.1-percent year-over-year decline in domestic systemwide same-store sales for the four weeks ended Nov. 19.

Same-store sales fell 3 percent at domestic franchised Applebee's Neighborhood Grill & Bar branches and 3.1 percent at corporate restaurants. Applebee's said guest traffic for the month decreased between 3 percent and 3.5 percent at its corporate units while the average check remained flat.

For the first eight weeks of the company's current fourth quarter, through Nov. 19, domestic systemwide same-store sales fell 2.1 percent, reflecting drops of 2.1 percent at domestic franchised restaurants and 2.2 percent at corporate units. The chain has 1,911 locations.

Securities analyst David S. Palmer at UBS Equity Research in New York said the still-soft results served as "a reminder that Applebee's and the casual-dining industry are not yet out of the woods."