Denny’s Inc. same-store sales fell 0.5 percent in the second quarter amid a “challenging full-service environment” and difficult comparisons, the company said Wednesday.
Despite the decline, Denny’s two-year same-store sales have still risen 6.8 percent, the company said.
“Not unlike others in the industry, our quarterly results were impacted by a challenging full-service dining environment, as well as our prior-year quarter, during which we achieved our strongest same-store sales performance in over a decade,” Denny’s CEO John Miller said in a statement.
Revenue rose 0.8 percent in the quarter ended June 29, to $124.3 million, from $123.3 million the previous year. But Denny’s also reported a $11.6 million loss, or 15 cents per share, down from a $9.7 million profit, or 11 cents per share, due entirely to a $22 million settlement loss associated with a pension plan liquidation.
When adjusted to factor out one-time events, net income rose 8.3 percent, to $10.6 million, or 13 cents per share.
Denny’s has 1,720 restaurants, most of them franchised.
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