Applebee's and IHOP owner Dine Brands thinks deals can attract fast food customers frustrated by high menu prices. Full-service restaurants, fast food chains, and home cooking compete for fewer dining dollars as consumers pull back spending. Dine Brands CEO says their $10 burger is better quality than a $10 burger from a paper bag. Lower-income customers under $50,000 make up to 50% of Dine's business but are visiting less and spending carefully. Dine reiterated full-year guidance as first-quarter earnings missed estimates.
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00:00It's Benzinga, and here's what's on the block.
00:02Applebee's and IHOP owner Dine Brands thinks deals can attract fast food customers frustrated
00:07by high menu prices.
00:09Full-service restaurants, fast food chains, and home cooking are competing for fewer dining
00:13dollars as consumers pull back spending.
00:16Dine Brands' CEO says their $10 burger is better quality than a $10 burger from a paper
00:21bag.
00:22Lower-income customers under $50,000 make up to 50% of Dine's business, but are visiting
00:27less and spending carefully.
00:29Dine reiterated full-year guidance as first-quarter earnings missed estimates.
00:33For all things money, visit Benzinga.com.