Denny’s Corporation releases preliminary financial results for fourth quarter and fiscal year 2017
January 8, 2018
Denny’s Corporation, franchisor and operator of one of America’s largest franchised full-service restaurant chains, reported preliminary results for domestic same-store sales and restaurant openings and closings for its fourth quarter and fiscal year ended December 27, 2017.
Denny’s fourth quarter domestic system-wide same-store sales increased 2.2%, including a 2.2% increase at domestic franchised restaurants and a 2.1% increase at company restaurants. Fiscal year domestic system-wide same-store sales grew 1.1%, including 1.1% growth at domestic franchised restaurants and 1.0% growth at company restaurants. On a two-year basis, this represents 1.9% domestic system growth, comprised of 1.9% growth at domestic franchised restaurants and 2.1% growth at company restaurants.
In 2017, Denny’s opened 39 restaurants, including 7 international locations, bringing the total restaurant count to 1,735. This is the ninth consecutive year of positive net system growth for the brand. In addition, 250 remodels were completed during fiscal year 2017, including 3 at company restaurants.
Based on preliminary results, Denny’s is reiterating its full year 2017 guidance expectations for Adjusted EBITDA* of between $101 and $103 million and Adjusted Free Cash Flow* of between $48 and $50 million provided with the Company’s third quarter 2017 results announced on November 1, 2017. Denny’s expects to release financial and operating results for its fourth quarter and fiscal year ended December 27, 2017 along with annual guidance for 2018 after the market closes on Tuesday, February 13, 2018.
