Due to profitability and brand quality standards, Applebee’s will be closing more restaurants this year than it previously estimated. According to a recent Fox Business article, DineEquity Inc. announced it would close 105 to 135 Applebee’s locations by the end of fiscal 2017.
"We believe 2017 will be a transitional year for Applebee's and we are making the necessary investments for overall long-term brand health and expect to see improvement over the next year," Richard J. Dahl, Chairman and interim Chief Executive Officer of DineEquity said.
On a more positive note, the company does think it will open 20 to 30 new Applebee’s locations overseas as well as 20 to 25 new IHOP restaurants this year. DineEquity continues to struggle as the competition heats up in the quick-service and fast casual dining segment.
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