From new $4 buttermilk pancake breakfasts to the planned opening of 45 to 50 new restaurants worldwide, Spartanburg-based Denny’s Corp. is seeking to build on its successes in 2016.
“Despite an uncertain industry outlook, Denny’s remains committed to further elevating the guest experience, consistently growing same-store sales and expanding the brand across the globe — leading to value creation for all franchisees and shareholders,” President and CEO John Miller said in a statement.
In January, Denny’s launched limited-time $4 menu items, including all-you-can-eat pancakes, the $4 Everyday Value Slam, $4 Biscuits and Gravy and $4 Shareable Turtle Sundae.
Last month, Denny’s sponsored the 48th NAACP Image Awards Red Carpet Live show. It was the second consecutive year of sponsorship.
Also in February, Denny’s announced a $1 million donation to the No Kid Hungry campaign to end childhood hunger in the United States. The money will help provide 10 million meals to children in need. In the past six years, Denny’s has donated $4.3 million to the cause, providing an estimated 43 million meals.
Last year, Denny’s announced its commitment to using 100 percent cage-free eggs in all its U.S. restaurants over the next decade. With its all-day breakfast, Denny’s serves more than 400 million eggs a year, including Build Your Own Grand Slam, Omelettes and Skillets.
In a presentation to investors earlier this month, Denny’s announced it had same-store sales growth in 14 of the last 15 quarters and opened more than 450 new restaurants since 2009 — 50 of them international locations in eight countries.
Outside the United States, there are now 123 Denny’s restaurants in 13 countries. The company has more than 1,600 restaurants in this country, with the strongest presence on the West Coast and in the Southwest, Texas and Florida. There are also full-service restaurants at travel centers and on college campuses.
For 2016, Denny’s reported a net income of $19.4 million, or 25 cents per diluted share, including a loss of $24.3 million resulting from the company’s pension plan liquidation.
Adjusted net income grew 15.2 percent to $42.3 million, while adjusted net income per share grew 26.5 percent to 55 cents.