Make us your home page

Applebee's closing up to 135 restaurants because of poor performance

Following a drop in second quarter sales, Applebee's Neighborhood Grill & Bar said it will close more than 100 locations this year, a bigger cut than it had previously forecast.

"We believe 2017 will be a transitional year for Applebee's and we are making the necessary investments for overall long-term brand health," said Richard Dahl, interim CEO of Applebee's parent company DineEquity Inc.

Sales at the Glendale, Calif.-based diner chain dropped 6.2 percent from the same period in 2016, the company reported Thursday.

Earlier, Applebee's planned on closing between 40 and 60 restaurants this year. Now it says it will shutter between 105 and 135 locations.

Specific restaurants have not been identified. Since June 2016, 27 locations around the country have closed.

There are about 20 Applebee's locations in Tampa Bay and 108 across Florida.

Amid the closures, the franchise still plans on opening 20 to 30 new locations, most of which will be international.

The restaurant industry has been in somewhat of a downturn this year as more diners are eating at home instead of going out, according to an April CNBC report.

DineEquity's stock closed Thursday at $38.81 per share, up about 4 percent from Wednesday.

Contact Malena Carollo at or (727) 892-2249. Follow @malenacarollo on Twitter.

Applebee's closing up to 135 restaurants because of poor performance 08/10/17 [Last modified: Friday, August 11, 2017 1:04am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Carrollwood fitness center employs scientific protocol to help clients


    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel


    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal


    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate


    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]