Mon, Feb 24, 4:26 PM (62 days ago)
**Denny’s Corporation (DENN) 10-K Summary for Fiscal Year Ended December 25, 2024** Denny's Corporation reported total revenue of $452.3 million, a decline from $463.9 million in the previous year, primarily due to decreased same-restaurant sales. Company restaurant sales were $211.8 million, down 1.7% year-over-year. Franchise and license revenue also decreased to $240.6 million, reflecting a drop in royalties and initial fees. Net income rose slightly to $21.6 million, compared to $19.9 million in 2023, despite increased operating expenses. The company’s operating income was $45.3 million, with a notable increase in general and administrative expenses to $80.2 million. Denny's continues its strategic focus on franchising, with 96% of its 1,568 restaurants franchised. The acquisition of Keke's in 2022 is contributing to growth but faced challenges impacting sales. Key risk factors include economic downturns affecting consumer spending, competitive pressures, and supply chain disruptions. Denny's maintains a working capital deficit of $55.6 million but is compliant with credit facility covenants, holding $261.3 million in long-term debt. The company anticipates continued focus on cost management and operational efficiencies to enhance profitability in the coming year.