Applebee is one of the fast food chains that received a significant amount of damage as a result of the worldwide pandemic. They disclosed at the beginning of the year that the restaurant would be closing some of its locations, and by the third quarter of the year, the number of restaurants to be closed had doubled.
On the other hand, Applebee is currently attempting to put things back on track by announcing over two hundred intriguing new menus that have been tested for several months.
Applebee's Comeback
(Photo : Pexels/ROMAN ODINTSOV)
The pandemic caused by the coronavirus has altered the standard of living around the world, and it is currently in the process of transforming it. As a result, many businesses are frantically attempting to adjust to the changes, and the fast-food industry is not an exception to this rule. During the pandemic, the restaurant business was one of the industries that was struck the worst. However, the restaurant industry is making a comeback, particularly the fast-food restaurants.
On Wednesday, Nov. 2, Dine Brands, Applebee's parent company, disclosed its financial results for the third quarter of 2023. As mentioned, Applebee's same-store revenue fell by 2.4% during the quarter, even though the chain's average weekly sales were even more significant than before the COVID-19 outbreak.
The recent drop in revenue is just the most recent obstacle that Applebee must overcome in 2023. Moreover, in March, the firm announced that it anticipated ending the year with 10 to 20 fewer dining establishments than it had established at the beginning. As Applebee strives to close locations not performing in line with expectations and get back on track, the company increased its net closure forecast to between 25 and 35 restaurants in August.
The good news is that Applebee's has come up with a multi-pronged strategy to get back on track, and a portion of that strategy depends on the restaurant's menu. The Chief Executive Officer of Dine Brands, John Peyton, indicated during the conference call to discuss earnings for the third quarter that Applebee's has conducted tests on over 200 new menu items throughout the past five months. In addition, although Dine Brands officials did not specify a specific timeframe, it is anticipated that menu adjustments will be implemented at some point during the following year.
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Applebee's Over 200 Exciting New Menu
Tony Moralejo, the president of Applebee's, stated that the restaurant company will be developing additional value products, such as the comeback of Dollarita in October and the all-you-can-eat Boneless Wings campaign in the late summer. Nevertheless, he did not disclose any specifics regarding what these value offerings might be.
Furthermore, a representative of Applebee claimed that the Quesadilla Chicken Salad, one of the tested products, had already been added to the menu. Accordingly, chicken that has been grilled and served on top of greens that have been tossed with Mexican ranch dressing, black bean corn salsa, and a mixture of cheddar cheeses is included in this dish. Also, a cheese quesadilla is served alongside this delectable salad, topped with pico de gallo and tortilla strips cooked in the kitchen.
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