Denny's Corporation Announces Update on Development
SPARTANBURG, S.C., March 11, 2013 (GLOBE NEWSWIRE) -- Denny's Corporation
(Nasdaq:DENN), franchisor and operator of one of America's largest
full-service restaurant chains, today announced that it and Great China
International Group (GCIG) have mutually decided to cancel the plans for GCIG
to develop franchise restaurants in southern China.
The Company reiterates its full year 2013 guidance for new restaurant openings
between 40 and 45 restaurants.
John Miller, Denny's President and Chief Executive Officer, stated, "We
continue to believe that Denny's has great potential in the Pacific Rim in
general, and China in particular, and are actively seeking development
partners who share that vision. In 2012, we signed our first development
partnership for South America and are looking forward to opening our first
location in Chile sometime in the next 12 months, which will help us grow our
current base of 98 International restaurants located in nine countries and
Steve Dunn, Denny's Senior Vice President of Global Development said, "We have
great respect for the varied business interests and capabilities of GCIG and
understand their need to focus on other projects. We wish them continued
success and hope to work with them again."
About Denny's Corporation
Denny's is the franchisor and operator of one of America's largest
full-service restaurant chains, based on number of restaurants. Denny's
currently has 1,688 franchised, licensed, and company restaurants around the
world with combined sales of $2.5 billion including 1,590 restaurants in the
United States and 98 restaurants in Canada, Costa Rica, Mexico, Honduras,
Guam, Curaçao, Puerto Rico, Dominican Republic and New Zealand. As of
December 26, 2012, 1,524 of Denny's restaurants were franchised and 164
restaurants were company operated. For further information on Denny's,
including news releases, links to SEC filings and other financial information,
please visit the Denny's investor relations website at investor.dennys.com.
The Denny's Corporation logo is available at
CONTACT: Investor Contact:
Liz DiTrapano, ICR
Denny's Corporation Logo
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