Applebee's January comparable sales sink |
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Published
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Wed, 31 Jan 2007 22:44
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OVERLAND PARK, Kan. (AFX) - Restaurant chain Applebee's International Inc. said Wednesday its January same store sales fell 5.8 percent due in part to severe winter weather.The company said same-store sales -- or sales at stores open at least a year -- fell 6.6 percent at company-owned restaurants and 5.5 percent at domestic franchise restaurants.Same-store sales are a key performance gauge measuring sales at locations open at least a year.The company said the numbers reflected an 8 percent drop in guest traffic combined with a higher average check.Applebee's raised its menu prices about 1.4 percent in the second week of the month.The restaurant chain said winter weather hurt same-store sales at company-owned restaurants by about 2.5 percent to 3 percent percentage points, and franchise restaurants by between a half point and a full percentage point.Applebee's will release its fourth-quarter and full-year earnings after the market closes on Feb. 14.Applebee's shares rose 36 cents to close at $25.24 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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