Dennys to close 150 Restaurants

Denny's has announced plans to close 150 underperforming restaurant locations by the end of 2025 in an effort to combat declining sales. Key points of the decision include:

- **Reason for Closures**: Denny's has reported its fifth consecutive quarter of year-over-year declines in same-store sales, leading the company to initiate closures as part of a strategy to revitalize the brand.

- **Location and Age of Restaurants**: Many of the locations targeted for closure are older and poorly located, with some having been in operation for over 70 years, contributing to their underperformance.

- **Timeline for Closures**: Around 75 of the closures are scheduled for this year, with the remaining 75 set to close in 2025.

- **Impact on Sales**: The closures are intended to improve the chain’s average annual unit volume (AUV) and stimulate net unit growth.

- **Stock Performance**: Following the announcement, Denny's stock saw a nearly 18% decline, signaling investor concerns over the company’s ongoing challenges.

CEO Kelli Valade mentioned that the company is considering reducing operating hours and streamlining the menu to better align with customer preferences.



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