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Ihop

BUSINESS
January 14, 2008
IHOP reports fourth- quarter sales up Glendale-based IHOP Corp. on Friday reported a 3.7% increase in same-store sales growth in the fourth quarter 2007. Year end same-store sales increased 2.2%. Guest traffic declined over the course of the fiscal year, but a slowdown in traffic was buffered by higher average guest checks, the company reported. The company ended the fiscal year with 1,344 IHOP restaurants operating system-wide in 49 states, Canada, Mexico and the U.S. Virgin Islands.
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BUSINESS
By Ryan Vaillancourt | December 22, 2007
GLENDALE — Glendale-based pancake purveyor IHOP Corp. may not be known for meddling in politics, but upon realizing that Super Tuesday would coincide with National Pancake Day next year, the company launched a lobbying campaign to protect its holiday special interest. The company sent letters on Dec. 5 to governors of the 15 states planning to host their presidential primaries on Feb. 5, urging them to change the primary date so voters wouldn’t be torn between voting and gobbling free pancakes, IHOP spokesman Patrik Lenow said.
BUSINESS
By Ryan Vaillancourt | December 1, 2007
DOWNTOWN — Glendale-based pancake house operator IHOP Corp. announced Thursday that it had completed its approximately $2.1 billion purchase of casual dining chain Applebee’s International Inc. The deal combines two of the largest full-service restaurant chains in the country — IHOP Corp. has 1,328 eateries, Applebee’s has 1,955 — giving IHOP Corp. reign over what the company said is now the largest full-service restaurant operation in the world in terms of the number of restaurants owned.
BUSINESS
By Ryan Vaillancourt | July 17, 2007
GLENDALE — IHOP Corp., the Glendale-based pancake restaurant chain, agreed on Monday to buy Applebee's International Inc. for about $2.1 billion, or $25.50 per share. The cost of the deal, which is expected to close in the fourth quarter this year, represents a share price that is 4.6% higher than Applebee's' closing price on Friday. IHOP had been exploring the possibility of an acquisition earlier this year when Kansas-based Applebee's put itself up for sale in February amid investor concerns of slumping stock prices, said Julia Stewart, IHOP chief executive.
BUSINESS
By Anthony Kim | November 18, 2006
GLENDALE — IHOP Corp. paid $11 million to the Internal Revenue Service Wednesday in a settlement over accounting practices, said Stacy Roughan, director of IHOP's investor relations. The amount represents $7.7 million in alleged underpaid taxes and $3.3 million in interest for the years 2001 to 2003, Roughan said. Under the Glendale-based company's old business model, it would charge a fee of about $250,000 to franchise owners, a figure that is lower now. The franchisee, according to a payment plan set by IHOP Corp.
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