Denny’s surges 25% after saying it will sell company-operated stores to franchisees (DENN)
|10/31/2018||Posted by BusinessMediaguide.Com under General World News||
- Denny’s on Tuesday said it will sell some of its company-operated restaurants to franchisees as part of its refranchising and development strategy.
- Shares soared 25% following the news, hitting a 52-week high of $18.16 apiece.
- The company’s third-quarter financial results missed both on the top and bottom lines.
- Watch Denny’s trade in real time here.
Denny’s shares soared 25% Wednesday, hitting a 52-week high of $18.16 apiece, after the restaurant chain said it will sell some of its company-operated restaurants to franchisees.
Denny’s management on Tuesday told investors that Denny’s intends to sell between 90 and 125 company-operated restaurants in the next read more >>>