Get in those Grand Slams while you can—Denny's is closing more than 10% of its 1,300-plus US sites. USA Today reports the diner-style restaurant chain known for its ample breakfast repasts will shut 50 locations by the end of the year, with another 100 to follow in 2025. Steve Dunn, Denny's executive VP and chief global development officer, told investors on a Tuesday earnings call that the restaurants to be shuttered were either mediocre moneymakers or were at sites deemed too out of date to remodel.
"Some of these restaurants can be very old," Dunn said. "So when you think of a 70-year-old-plus brand, you have a lot of restaurants that have been out there for a very long time." It's not yet clear which restaurants are on the chopping block. The goal of this move, per Dunn: to boost "the bottom-line cash flow for the long term." The AP notes that on the same call, it was revealed Denny's had posted its "fifth straight quarter of year-over-year declines in same-store sales," which are sales at stores that have been open for at least one year.
The chain is also considering another move: not being as much of a stickler on its "open 24 hours" business model, reports CNN. The outlet notes this "major concession" was made after corporate recognized a number of its franchises hadn't returned to the 24/7 schedule after the pandemic and decided to relax its mandate that all its restaurants do so. It simply "didn't make sense" to keep some of those eateries open during less-trafficked hours, Dunn notes. (More Denny's stories.)
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