: Denny’s stock slides premarket after it offers guidance that lags consensus

Denny’s Corp. stock DENN fell 5.2% in premarket trade Monday, after the restaurant chain offered guidance that lagged consensus estimates. The company said it expects fourth-quarter same-restaurant sales to be up 2% from the year-ago period, below the 2.1% FactSet consensus. For the full year, it expects same-restaurant sales to be up 6.3%, while FactSet calls for 7.1%. “We remain focused on increasing staffing levels, extending operating hours, and upholding our commitment to everyday value in the near-term while we move forward with exciting revitalization strategies to further propel our business into the future,.” Chief Executive Kelli Valade said in a statement. The company opened 30 restaurants, including eight international locations, in 2022, and closed 66 restaurants to bring its total count to 1,656. The stock has fallen 33% in the last 12 months, while the S&P 500 SPX has fallen 17%.

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