DineEquity shares fall on lower profits
Glendale-based DineEquity Inc., parent company of Applebee's and Glendale-based IHOP restaurant chains, reported lower quarterly profits last week. Its shares fell as much as 13%, the company reported.
The company has been struggling with declining sales, and it does not expect a significant improvement this year, the company said. DineEquity has been paying down debt and selling restaurants to franchisees as it tries to turn around its Applebee's business.