National Pancake Day was a resounding success for IHOP. The pancake and waffle chain owned by DineEquity had its name in the top trends on both Twitter and Google searches on Tuesday, while millions of dollars in sales were generated by hungry patrons. But, there is more going on at DineEquity than giving away free short stacks of pancakes for a day. DineEquity is in the process of reinventing both its Applebee’s and IHOP chains. New menus featuring more profitable, shareable dishes like churros with chocolate dipping sauce are in at Applebee’s, whereas a complicated menu of entrees is on the way out. The long-time app destination also has a new restaurant design being rolled out by franchisees. On the other hand, IHOP is poised to unveil of a host of new menu options to go along with a restaurant redesign of its own. Thus far, consumers have noticed the changes, with same-restaurant sales coming in strong in the fourth quarter at both restaurants. With its stock near an all-time high, TheStreet’s Brian Sozzi sits down in the world’s largest Applebee’s in New York City to chat with DineEquity Chairman and CEO Julia Stewart.
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