Denny's to Open Two Stores in Sacramento, Earnings Preview

 

Denny's, the South Carolina based diner, is set to open up two new stores in Sacramento, Calif. by the end of the year.

 

The new locations are in a former Straw Hat Pizza at 4441 East Commerce Way in Natomas and a former Lyon's Restaurant at 300 Bercut Dr. in Sacramento. The Straw Hat was closed at the end of last year and the Lyon's has been closed for years.

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According to Bizjournals, renovation has already commenced at the Bercut location, off the Richards Boulevard exit on Interstate 5. Meanwhile, the Natomas location is in the process of getting permits from the city of Sacramento.

Denny's operates over 1,600 restaurants in the United States (including Puerto Rico), Canada, Curaçao, Costa Rica, Honduras, Japan, Mexico, New Zealand, Qatar, and the United Arab Emirates.

Denny's Corporation will unveil its latest earnings on Tuesday, July 31. According to Wall Street expectations, the average analyst estimate is for profit of 6 cents per share, a decline of 25 percent from the company's actual earnings for the year-ago quarter.

During the past three months, the average estimate has moved down from 7 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. Analysts are projecting profit to rise by 15.2 percent compared to last year's 28 cents.

Denny's started franchising in 1963, and most Denny's restaurants are now franchisee-owned.