Same-store sales at Applebee's dropped 2.9% in the fourth quarter. "Despite a challenging environment, we believe we can reverse this trend," says Julia Stewart, CEO of parent IHop ihp. She says a new menu is in the works.
Steak 'n Shake's sns same-store sales dived 9.5% in the fourth quarter at company units. Chili's fell 2.4%. And Wendy's wen sales at company-owned stores fell 0.8%.
Cheesecake Factory fell 0.4%, and Howard Gordon, senior vice president, says that since going public in 1992, "We've never seen a time like this."
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