By Heather Haddon
The torrent of political and economic news isn't helping sell Grand Slam breakfasts.
Family dining chain Denny's said Wednesday that uncertainty among consumers has depressed sales, as a barrage of news, coupled with rough winter weather, has dented Americans' interest in going out for a plate of pancakes and eggs.
The chain's quarterly adjusted earnings and sales slightly missed analysts' projections. Denny's gave a muted outlook for store sales growth in 2025, in part because of uncertainty among consumers.
"You and I are both reading it every day," Denny's Chief Financial Officer Robert Verostek said during an investor call.
Denny's shares plunged 18% in morning trading.
Spartanburg, S.C.-based Denny's headed into 2025 saying consumer demand would perk up. But in late January and into February, diners pulled back. Denny's pointed to mounting macroeconomic stress, including rising inflation reported by the government Wednesday.
Denny's is advertising a pancake, eggs, biscuits and meat deal starting at around $6.99 to try and appeal to consumers. The chain is also working with suppliers to guarantee its egg supply in the face of shortages stemming from avian flu.
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(END) Dow Jones Newswires
February 12, 2025 11:06 ET (16:06 GMT)
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