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Dine Brands (DIN) Plans To Launch Fast Casual Concept In 2020

Published 12/11/2019, 10:01 PM
Updated 07/09/2023, 06:31 AM

Dine Brands Global Inc.’s (NYSE:DIN) International House of Pancakes (IHOP) brand recently announced that it plans to open a fresh fast casual concept — Flip’d by IHOP — in the United States during the spring of 2020.

In April, 2020, the brand anticipates to launch its first Flip’d in Atlanta. The company plans to launch this concept in places like New York City, Washington D.C., Denver, and San Francisco.

Flip’d by IHOP will mainly focus on freshly-made breakfast foods and beverages in order to tap the growing consumer demand in densely populated city centers. Ultimate Steakburgers and Buttermilk Crispy Chicken — the brand’s famous lunch and dinner items will also be available. Other menu items like Egg sandwiches, Pancake Bowls with assorted toppings like berries, sauces, bacon and cheddar cheeses and Grab-and-go salads and wraps are designed to be eaten on the go.

"In looking at what exists today in terms of fresh, fast menu options -- particularly at breakfast -- there’s still tremendous opportunity for growth." as stated by Jay Johns, president of IHOP.

The brand will allow customers to order food online in advance or through digital kiosks or at the counter. Customers can also order through Catering for large servings of Build Your Own Pancake Bowls, breakfast sandwiches, a Burger Bar and more.

Currently, there are more than 1,700 IHOP restaurants in the United States and another 100+ IHOP restaurants globally. The company aims to develop nearly 100 IHOP restaurants with TravelCenters of America, headquartered in Westlake, OH.

We believe the latest launch will boost IHOP restaurants’ sales. During third-quarter 2019, IHOP comparable same-restaurant sales grew 0.03%, marking its seventh consecutive quarter of positive sales growth. Meanwhile, IHOP restaurants’ system-wide sales for the third quarter rose 1.2% year over year to $845 million. The company also expects comps at IHOP to be 1-2%. It also expects to open 10-20 IHOP net new restaurants globally.

Year to date, shares of this Zacks Rank #3 (Hold) company have gained 24.5% compared with the industry’s 19% rally.

Key Picks

Some better-ranked stocks in the same space include Chuy's Holdings, Inc. (NASDAQ:CHUY) , Chipotle Mexican Grill, Inc. (NYSE:CMG) and Dunkin' Brands Group, Inc. (NASDAQ:DNKN) . While Chuy’s sports a Zacks Rank #1 (Strong Buy), Chipotle and Dunkin’ carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Chuy’s, Chipotle and Dunkin’ have an impressive long-term earnings growth rate of 17.5%, 19.7% and 10.9%, respectively.

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DINE BRANDS GLOBAL, INC. (DIN): Free Stock Analysis Report

Chipotle Mexican Grill, Inc. (CMG): Free Stock Analysis Report

Dunkin' Brands Group, Inc. (DNKN): Free Stock Analysis Report

Chuy's Holdings, Inc. (CHUY): Free Stock Analysis Report

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