Monday, August 21, 2017
Decelerating Retail News
DineEquity, parent of Applebee’s and IHOP, will shutter up to 135 restaurants in fiscal 2017, while also expecting franchisees to develop between 20–30 new restaurants globally. There were 1,752 total IHOP units and 1,968 Appleebee’s as of June 30...Famous Dave’s of America Inc. closed 6 company-owned restaurants, as it takes “a more aggressive approach” in closing underperforming locations. The barbecue chain is in the process of either selling corporate restaurants to franchisees or closing them. Famous Dave’s operated 35 company locations as of the end of the first quarter. It closed 3 units during the second quarter, and another 3 after the end of the period, giving it 29 company units. The closures represented nearly 20% of Dave’s company-owned restaurants. Franchisees operate another 135 units...Joe’s Crab Shack has abruptly closed at least 41 locations across 19 states.