“Americans, now that they are increasingly vaccinated, with capacity restrictions being lifted across the country, with good weather, with a strong economy, people are returning to restaurants,” he told Nation’s Restaurant News after the earnings call. “And it s because they want to gather and celebrate community and literally hug each other again, because we haven t done that for 13 months.”
He also said Dine Brands was still shopping for another concept.
Peyton told investors that the improvement in sales at Applebee’s and IHOP also was driven by historically high consumer savings and federal stimulus checks as well as unemployment rates that are at their lowest level since the pandemic started. Sales might be buoyed further if a new federal infrastructure bill is passed, he said.
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The higher prices that food makers have been warning about for months have hit U.S. grocery carts.
Seafood prices are up 18.7%, on average, in the 13-week period that ended April 24, while baked goods such as doughnuts and rolls cost about 7.5% more than in the same period last year, new data from NielsenIQ show. In fact, 50 of the 52 categories tracked by the data provider are more expensive than a year ago, with only butter and milk holding essentially flat while everything around them skyrockets.
Rising commodity costs are partially behind the surging prices, with the Bloomberg Commodity Spot Index which tracks 23 raw materials now at its highest level in almost a decade. Surging transport costs and supply chain disruptions are contributing, too, as is a continued bump in consumer demand as more Americans cook at home.
IHOP Celebrates “Milkshake Monday” Nationwide With $50,000 Charitable Donation on Monday, May 10, 2021
May 7, 2021 · ·
Glendale, CA (
Restaurant News Release) IHOP® today declared Monday, May 10, 2021 as “Milkshake Monday,” as a sweet start to the week with a wink and a laugh. The promotion was sparked by one very famous fan’s penchant for milkshakes, following his viral visit to a busy IHOP restaurant last week in Manhasset, Long Island, NY.
The lauded comedian, actor and filmmaker jokingly set the record straight on Monday, Tweeting that he only left IHOP because the restaurant’s all-you-can-eat offering did not apply to milkshakes.
IHOP responded in kind and accepted the challenge: on “Milkshake Monday,” guests are invited to visit any of the 19 IHOP locations throughout Long Island, NY for All-You-Can-Drink milkshakes from 12:00-8:00 p.m. ET.
“Americans, now that they are increasingly vaccinated, with capacity restrictions being lifted across the country, with good weather, with a strong economy, people are returning to restaurants,” he told Nation’s Restaurant News after the earnings call. “And it s because they want to gather and celebrate community and literally hug each other again, because we haven t done that for 13 months.”
He also said Dine Brands was still shopping for another concept.
Peyton told investors that the improvement in sales at Applebee’s and IHOP also was driven by historically high consumer savings and federal stimulus checks as well as unemployment rates that are at their lowest level since the pandemic started. Sales might be buoyed further if a new federal infrastructure bill is passed, he said.
Operator
Hello, and welcome to the First Quarter 2021 Dine Brands Global Earnings Conference Call. My name is Christian, and I ll be your conference operator today. [Operator Instructions].
I ll now turn the call over to Mr. Ken Diptee, Executive Director of Investor Relations. Sir, you may begin.
Ken Diptee
Executive Director, Investor Relations
Good morning, and welcome to Dine Brands First Quarter 2021 Conference Call. I m joined by John Peyton, CEO; Allison Hall, Interim CFO and Controller; Jay Johns, President of IHOP; and John Cywinski, President of Applebee s. Before I turn the call over to John, please remember our safe harbor regarding forward-looking information. During the call, management may discuss information that is forward-looking and involves known and unknown risks, uncertainties and other factors, which may cause the actual results to be different than those expressed or implied. Please evaluate the forward-looking information in the context of these facto