Los Angeles, California – Denny’s Corporation held its Q2 2024 earnings conference call on July 30th, 2024, discussing their financial performance and market strategies. Key figures from the company, including CEO Kelli Valade and CFO Robert Verostek, shared insights into the company’s progress and future plans during the call.
During the call, Valade highlighted the company’s strong performance in the face of a competitive market, emphasizing the outperformance of Denny’s against the BBI Family Dining Sales Index. Despite challenges, Denny’s managed to maintain its market share and even gain traction in key states like California, Texas, Florida, and Arizona.
One of the major topics of discussion was the successful rollout of the virtual brand, Banda Burrito, which saw positive results in increasing traffic and sales. The company also emphasized its commitment to value offerings, with the relaunch of the popular $2, $4, $6, $8 menu and the introduction of a new $10 category. These value-driven initiatives are aimed at driving traffic across all dayparts and increasing customer loyalty.
Additionally, the call addressed the performance of the Keke’s brand, focusing on improvements and growth opportunities in key markets such as Florida, Tennessee, and Texas. The company highlighted successful menu updates, including new offerings like grits and gluten-free toast, as well as revamped kids’ meals to enhance customer satisfaction and increase average check size.
In terms of financial performance, Denny’s reported Q2 domestic system-wide same-restaurant sales of negative 0.6%, with the company continuing to monitor trends and adjust strategies to navigate the challenging industry landscape. The call also touched upon future plans for expansion, with a focus on opening new restaurants and exploring growth opportunities in emerging markets.
Overall, the conference call provided valuable insights into Denny’s Corporation’s financial health, market strategies, and growth prospects, showcasing the company’s resilience and innovative approach in a highly competitive industry.
