DENNY'S CORP
DENNDenny's Corp (DENN) is a restaurant chain specializing in breakfast, lunch, and dinner offerings. Founded in 1953, it is known for its full-service diners and 24/7 service model, providing a variety of classic American comfort foods. The company operates across the United States and internationally, emphasizing quick, casual dining.
Company News
Law firm Brodsky & Smith is investigating potential breaches of fiduciary duties by boards of several companies during merger and acquisition processes, questioning the fairness of deal considerations and shareholder value.
Law firm Monteverde & Associates is investigating merger transactions for Denny's, Electronic Systems Technology, Avadel Pharmaceuticals, and Cadence Bank, offering shareholders potential legal recourse.
Denny's agreed to be acquired by a private-equity-led investment group for $620 million at $6.25 per share, representing a 52% premium over its previous closing price, amid challenging economic conditions for the restaurant chain.
Denny's reported Q2 2024 revenue of $115.93 million, down 0.9% year-over-year, and EPS of $0.13, down from $0.14 in the prior-year quarter. The results missed analyst estimates, with revenue falling short by 2.51% and EPS missing by 23.53%. Key metrics like same-restaurant sales and restaurant unit counts also fell short of expectations.
"What companies do during this time period will serve as evidence of whether they are truly committed or were just jumping on the DEI bandwagon in 2020."
