SPARTANBURG, S.C. (
(DENN - Get Report) and
(BOBE - Get Report) shares fell sharply Wednesday while
P.F. Chang's China Bistro
(PFCB) gained following mixed earnings results from the trio of restaurant operators.
Denny's and Bob Evans missed profit expectations. P.F. Chang's posted weaker-than-expected revenue but topped earnings expectations and
increased its dividend
Denny's posted an 84.9% drop in fourth-quarter earnings to $2.7 million, or 3 cents per share, down from a year-earlier profit of $17.9 million, or 18 cents per share.
Revenue fell 3.3% to $135.9 million.
Analysts had expected the casual dining chain to earn 8 cents per share, on revenue of $142.9 million.
Denny's attributed its weakened results to
, and said poor weather across the U.S. accounted for a decline in same-store customer counts.
Denny's said operating margins fell to 12.3% last quarter on rising overhead costs.
Comparable same-store sales -- or sales at stores open at least one year, a closely watched metric in the restaurant industry -- fell 1.6% at company-owned stores and 1.4% at franchised locations.
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