OVERLAND PARK Kan. Applebee’s International Inc. said domestic systemwide same-store sales dropped 5.8 percent for the four weeks ended Jan. 28, versus the same period of a year earlier. The company said severe winter weather negatively affected its results by as much as 1.5 percent.
January same-store sales for corporate units declined 6.6 percent, which reflected an 8-percent drop in traffic and a menu price increase of about 1.4 percent taken during the second week of the month, the company said.
Corporate same-store sales results and the decline in traffic were the worst monthly numbers dating back to 2001, according to research from John Ivankoe at J.P. Morgan Securities Inc. in New York. Same-store sales for domestic franchised restaurants decreased 5.5 percent. Applebee’s operates and franchises 1,936 namesake dinnerhouses.
