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Fly News Breaks for July 7, 2015
DIN
Jul 7, 2015 | 07:56 EDT
As previously reported, Longbow downgraded DineEquity to Neutral from Buy. The firm's checks indicate Applebee's Q2 same-store-sales slowed to the 1%-1.5% range year-over-year. Longbow said recent menu and advertising changes produced initially positive results but have failed to drive a sustained comp lift since late Q1. Firm is concerned about Applebee's ability to reaccelerate traffic over then next 6-12 months and is skeptical in its ability to attract Millennials.
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