Denny's Corporation ( NASDAQ: DENN ) rallied on Monday after posting guidance ahead of a presentation at the ICR Conference in Orlando, Florida. The restaurant company said on a preliminary basis that Q4 domestic system-wide same-restaurant sales rose 2.0%, including a 1.7% increase at domestic franchised restaurants and a 6.0% increase at company restaurants. That matched the consensus expectation of analysts.
For the fiscal year, Denny's ( DENN ) domestic system-wide same-restaurant sales grew 6.3% compared to the equivalent fiscal period in 2021, including a 6.0% increase at domestic franchised restaurants and a 10.4% increase at company restaurants. Denny's ( DENN ) also expects adjusted EBITDA to land in a range of $21M to $23M. The company plans to release full Q4 results on February 13.
Looking ahead, the restaurant operator said it is focused on increasing staffing levels, extending operating hours, and upholding its commitment to everyday value in the near-term.
Shares of Denny's ( DENN ) rallied 4.74% in Monday afternoon trading.
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Denny's rallies after matching sales expectations in Q4