Dine Brands Global (DIN) 47th Annual Raymond James Institutional Investor Conference summary

Business performance and consumer trends

• 2025 saw improved performance over 2024, with IHOP leading in traffic growth and Applebee's achieving positive comp sales for the first time in over a year.

• Value-focused promotions like 2 for $25 at Applebee's and Everyday Value at IHOP drove strong results, with about a third of Applebee's tickets and 20% of IHOP tickets using value menus.

• The customer base is centered around households earning $50,000–$100,000, with a net gain in higher-income guests offsetting losses among lower-income segments.

• Off-premise sales have grown from 6–8% pre-pandemic to 22–23% of total sales, with most off-premise customers being incremental.

Menu innovation and marketing

• Applebee's introduces a new entrée and appetizer each quarter, with recent hits like the Grilled Cheese Cheeseburger and O-M Cheeseburger driving sales and social media engagement.

• About 50% of guests trade up from the base value menu to higher-priced options, aided by upselling and beverage innovation.

• Marketing spend has shifted, with over half now allocated to digital and social channels, resulting in 100–200% increases in engagement and reach, especially among younger consumers.

Brand-specific strategies and challenges

• IHOP's Everyday Value platform, launched in 2025, expanded from five to seven days a week, driving positive traffic and market share gains.

• The breakfast category remains challenged by post-COVID work patterns and new competitors, but IHOP leverages social media stunts and menu innovation to stay relevant.

• Both brands use a barbell strategy: value offerings attract guests, while in-restaurant upselling and higher-margin items balance the sales mix.