Denny’s Corporation (NASDAQ:DENN) Q1 2024 Earnings Call Transcript

Robert Verostek: That’s a tough one, Nick, because the reality is, again, that choppiness that we had seen really kind of extended through the mid April timeframe. So to give you a number, I don’t think that would be representative of the month, would be representative of the new trends that we are now seeing in the back half of the month, with the new menu, with the incremental pricing, with the new all day diner out there, that new value commercial we have out there. So the month wouldn’t necessarily be represented of the trend that we’ve seen kind of the back half of the month.

Nick Setyan: Got it. Fair enough. Thank you very much.

Robert Verostek: Thanks, Nick.

Operator: Our next question is from Aisling Grueninger with Piper Sandler. Please proceed with your question.

Aisling Grueninger: Hi. Good afternoon, guys. I know you mentioned on the last call, as well as in the prepared remarks, that Florida was the weakest state in your geography. I was just wondering if the flight Florida market is improving any since this and just how much, how much has it been impacting traffic and sales at Keke’s?

Robert Verostek: Yeah. So good to speak with you. With regard to the with the traffic, the sales within Florida, there has been some improvement over the course of the quarter, but with regard to relative positioning to the balance of the US, it would still fall in the bottom quintile of our sales performance. I do believe that we will see that we begin to roll over the depth of this in about a month or so that happened in this really outsized relative underperformance in Florida really started in about May of last year. So I do have some hope that as we roll over this it’ll begin to normalize. But right now it would be still in the bottom quintile of our state’s performance, although it did improve across Q1.

Aisling Grueninger: Great. Thanks. I’ll pass it back.

Robert Verostek: Thanks.

Operator: We have reached the end of the question-and-answer session. I’d now like to turn the call back over to Kayla Money for closing comments.

Kayla Money: Thank you. I’d like to thank everyone for joining us on the call today. We look forward to our next earnings conference call in late July when we will discuss our second quarter 2024 results. Thank you and have a great evening.

Operator: This concludes today’s conference. You may disconnect your lines at this time, and we thank you for your participation.+