Denny's is closing 150 restaurants over the next year, targeting underperforming locations and easing franchisees' requirement to stay open 24/7 due to pandemic shifts in customer behavior.
Higher labor and food costs have led restaurants to close earlier, with Denny's acknowledging that less foot traffic during off hours made remaining open a poor decision.
A notable change includes a slimmed-down menu, which has been reduced from 97 options to 46, reflecting a trend of cash-strapped customers ordering from the kid's menu.
Denny's shares dropped 17% following their earnings report that missed expectations, part of a troubling year with stock down 50% overall.
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