Applebee’s announced Feb. 20 it will close as many as 80 restaurants nationwide as the chain continues to struggle attracting young diners.
The announcement comes after Applebee’s parent company, DineEquity, said in August it would close more than 100 restaurants.
It’s not clear which Applebee’s locations would close, but according to Fortune, remaining locations will be judged on a number of criteria.
“The expected closures will be based on several criteria, including meeting our brand and image standards as well as operational results,” DineEquity told Fortune in a statement.
Up To 40 IHOP Locations To Close
DineEquity also announced it would close up to 40 IHOP locations, though it plans to open as many as 100 new locations of the breakfast chain throughout the country.
DineEquity’s stock has soared since the announcement, rising nearly 20 percent on Tuesday.
‘Investing In The Empowerment Of Our Brands’
The decision to close underperforming restaurants is part of an overall strategy to improve sales, as DineEquity shared last August.
“We are investing in the empowerment of our brands by improving overall franchisee financial health, closing underperforming restaurants and enhancing the supply chain,” interim CEO Richard Dahl said in a statement released at the time.
The company has not said which specific restaurants will close.
Dahl also described 2017 as a “transitional year” for Applebee’s.
“We are making the necessary investments for overall long-term brand health and expect to see improvement over the next year,” he said.
As for IHOP, he pointed out to the new online ordering and delivery initiatives aimed at making eating there more convenient for customers.
$1 Bahama Mamas At Applebee’s
Throughout the month of February, Applebee’s is offering Bahama Mamas for $1. Or, as Applebee’s is calling it, the DOLLARMAMA.
For the uninitiated, Bahama Mamas are a tropical fruit punch made with rum that tastes like summer in a glass.
“It’s a $1 Bahama Mama that combines the flavors of coconut, cherry, orange, pineapple with lime and white rum,” Applebee’s explains of its latest cocktail darling. “Get one today for a little taste of vacation.”
It’s no dainty drink either: The DOLLARMAMA is served in a 10-ounce mug. Cheers to that.
Written by Alex Hider for KGUN. Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider. Additional reporting by Don’t Waste Your Money staff.
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