Denny's Corporation announced the closure of an additional 30 restaurants, leading to a total of 180 closures planned for 2024 and 2025, all aimed at combating declining growth and profitability. The company, facing challenges from inflation and shifting customer preferences, reported a 50% stock decrease over the past year and missed earnings expectations. In light of the closures, CEO Kelli Valade highlighted some positive developments, including the opening of 14 franchised restaurants and significant renovations across several locations, indicating a push towards restructuring and enhancing brand health in response to market conditions.
Denny's Corporation is closing 30 more restaurants, totaling 180 closures planned for 2024 and 2025, as part of a strategy to enhance its growth.
Denny’s has struggled due to inflation and changing consumer habits, prompting a series of closures alongside major chains like TGI Fridays and Wendy's.
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