IHOP 2008 Annual Report Download - page 68
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(e) These amounts represent changes for Applebee’s restaurants for the full year. We acquired
Applebee’s on November 29, 2007. The change in Applebee’s store sales and same-store sales was
(5.1)% and (4.5)%, respectively, for the five-week period in the 2007 period subsequent to the
acquisition date. The change in domestic franchise restaurant store sales and same-store sales, as
reported to the Company, was (2.4)% and (5.0)%, respectively, for the five-week period in the
2007 period subsequent to the acquisition date. The change in domestic system store sales was
(3.1)% and (4.8)%, respectively, for the five-week period in the 2007 period subsequent to the
acquisition date.
The following table summarizes Applebee’s restaurant development and franchising activity:
Year Ended December 31,
2008 2007 2006 2005 2004
(Pro forma) (Predecessor Applebee’s)
Applebee’s Restaurant Development Activity
Beginning of year ............................... 1,976 1,930 1,804 1,671 1,585
New openings
Company-developed .......................... 1 14 35 52 32
Franchisee-developed ......................... 48 66 108 92 77
Total new openings ......................... 49 80 143 144 109
Closings
Company .................................. (3) (24) (4) (1) (1)
Franchise .................................. (18) (10) (13) (10) (22)
End of year ................................... 2,004 1,976 1,930 1,804 1,671
Summary—end of year
Franchise ................................... 1,598 1,465 1,409 1,318 1,247
Company ................................... 406 511 521 486 424
Total ................................... 2,004 1,976 1,930 1,804 1,671
Applebee’s Restaurant Franchising Activity
Domestic franchisee-developed ..................... 28 44 90 78 66
International franchisee-developed ................... 20 22 18 14 11
Refranchised .................................. 103 — — — —
Total restaurant franchised ................... 151 66 108 92 77
Reacquired by the Company ....................... — — (4) (11) (10)
Closed ....................................... (18) (10) (13) (10) (22)
Net addition ................................. 133 56 91 71 45
Results of Operations—2008 with Pro Forma 2007
2008 2007
(Pro Forma)
(In thousands)
Franchise revenues .............................. $ 148,391 $ 143,697
Company restaurant sales ......................... 1,088,101 1,158,537
Franchise expenses .............................. 4,122 1,528
Company restaurant expenses ...................... 961,019 1,039,126
General and administrative expenses ................. 101,842 199,512
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