IHOP looks beyond breakfast - again
IHOP Corp. (NYSE:IHP), the U.S. restaurant chain best known for its stacks of decadent pancakes, aims to use momentum from a recent turnaround to address a lingering problem -- convincing consumers that it is not just for breakfast.
Reinvigorated by a two-year improvement in sales and profits, the chain once known as International House of Pancakes plans to boost business at its 1,200 restaurants by luring customers late in the day.
"We sort of own breakfast in America ... and we would like to own lunch and dinner as well," said Julia Stewart, chief executive of IHOP, which trails rivals Denny's Corp. (DENN.OQ) and Waffle House by both sales and number of restaurants.
The company has tried on and off for more than 20 years to convince customers to think of it when deciding where to go for an evening steak or lunch-time sandwich, over the years changing its name from International House of Pancakes, to the less breakfast-oriented 'IHOP'.
External Source - For the complete article click here
Source - Reuters
"We sort of own breakfast in America ... and we would like to own lunch and dinner as well," said Julia Stewart, chief executive of IHOP, which trails rivals Denny's Corp. (DENN.OQ) and Waffle House by both sales and number of restaurants.
The company has tried on and off for more than 20 years to convince customers to think of it when deciding where to go for an evening steak or lunch-time sandwich, over the years changing its name from International House of Pancakes, to the less breakfast-oriented 'IHOP'.
External Source - For the complete article click here
Source - Reuters
