Newly public chain
(CHUY - Get Report) also reported better-than-expected results, beating estimates on both revenue ($47.9 million versus $43.9 million) and earnings (13 cents versus 12 cents). The Mexican restaurant chain, which went public in July, is up 8% in pre-market trading, and more than 60% since it began trading.
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(DIN - Get Report), parent of Applebee's and IHOP, also reported a strong quarter, beating the consensus on revenue ($216.3 million versus $202.6 million), and earnings ($1.03 versus 93 cents). The company has adopted a "re-franchising" strategy, similar to
(DENN - Get Report), selling company-owned Applebee's restaurants to franchisees, helping to reduce the company's debt load to about $1.2 billion, from $1.8 billion at the end of 2010.
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Denny's,) which has staged a remarkable comeback the past several years, barely beat the consensus on revenue ($120.9 million from $120.6 million), but missed badly on earnings (6 cents from 9 cents). On a positive note, the company reduced total debt by about $9 million, and repurchased one million shares during the quarter.
Denny's also opened 12 new units (franchised), and signed a deal to open 10 in Chile. Sometimes it's hard to believe that this older chain, that was bankrupt not all that long ago, is actually growing. I thought I was seeing things on the way to the airport following a mission trip in the Dominican Republic this past summer, but there it was, a huge billboardfor the new Denny's at the Santo Domingo airport, the first in that country. This company seemingly has nine lives.
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