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“We perform well during tough times like this,” said parent company Dine Brands chief executive John Peyton told the Post on how inflation has impacted its business.
Applebee's and IHOP have raised their menu prices this year while also reporting an increase in sales.
Cash-strapped consumers are starting to trade down, swapping higher-priced goods for more affordable alternatives. That's good news for Applebee's and IHOP.
Wealthier Diners Switch To Bargain Chains
The CEO of the parent company that owns the two restaurant chains said it is seeing an increase in customers making higher salaries.