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Steve Joyce, CEO of Dine Brands, said Thursday that the controversial IHOP hamburger campaign has helped bring the chain of breakfasts back to positive same-store sales in 2018.
IHOP was the subject of an unprecedented review last year after temporarily changing its iconic name to IHOb – abbreviation for International House of Burgers – to promote a new range of cheese burgers. The ad provoked negative reactions from critics, although Dine Brands officials said the temporary name change had resulted in record social engagement and a significant increase in sales.
"IHOP found positive sales in 2018 and closed the year with a very, very strong quarter," said Joyce in a reminder of the results. "The brand has also pushed innovation to the next level by creating the most vibrant media campaign in its history with the launch of Ultimate Steakburger. In addition, Applebee and IHOP have reached unprecedented levels of overall customer satisfaction. "
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Shares of Dine Brands, which owns IHOP and Applebee, rose more than 12% on Thursday after the foodservice company exceeded its earnings guidance and announced plans to increase its dividend. Already this year, the stock has increased by 31%.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| DIN | DINE BRANDS GLOBAL | 99.87 | 0.38 | + 0.38% |
IHOP's comparable store sales – a measure of store sales that have been open for more than a year – increased 3% in the fourth quarter, while system-wide sales increased 4.5% in the fourth quarter. $ 863.7 million. The breakfast chain has now posted positive sales in comparable stores in four consecutive quarters.
IHOP President Darren Rebelez told FOX Business that the name change had resulted in "some enemies", but had also resulted in a fourfold increase in burger sales at the height of the promotion.
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"We had 44 billion impressions in the media and over 22,000 news articles about it. It was huge, "Rebelez said in November.
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