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One motive? Consideration from the track “Fancy Like” by Walker Hayes.
“This track lyrically is all about date evening at Applebee’s, and it is gone viral in a giant approach on social media — TikTok, Instagram and YouTube — offering nice buzz for the Applebee’s model,” Applebee’s president John Cywinski stated throughout an analyst name Thursday.
These lyrics, in case you have been questioning: “We fancy like Applebee’s on a date evening, bought that Bourbon Avenue steak with the Oreo shake.” The track additionally nods to Wendy’s and Natty Mild.
“When Taylor Swift drops our identify within the track, our model turns into very, very related,” Lee stated throughout a December analyst name. “It is a 40-plus 12 months previous model that is unexpectedly related along with her viewers … thanks to Taylor Swift for dropping Olive Backyard in her track.”
Applebee’s will get a lift
Gross sales at US Applebee’s areas open not less than a 12 months grew 102% within the three months ending on June 30, in comparison with the identical interval final 12 months, when gross sales had dropped dramatically. However even in comparison with 2019, gross sales have been 10.5% greater.
It is not simply due to the track.
Cywinski had predicted that demand would ultimately surge for Applebee’s meals. “I imagine Applebee’s is close to an inflection level,” he stated in a March analyst name. “And that America’s pent-up demand for eating out is certainly very actual… when this does happen, our franchise companions are very properly positioned to not solely return to sustained development however to thrive in a put up pandemic setting.”
However, he warned Thursday, the expansion will mood ultimately. “Whereas Applebee’s momentum stays robust, it might be unrealistic to count on these unprecedented double-digit gross sales [growth compared to 2019] to maintain within the again half of this 12 months,” Cywinski stated.
Applebee’s and sister model IHOP might additionally endure if shutdowns resume. “Our outlook will surely be impacted [if] giant areas of the nation return to lockdowns or restaurant company develop into uncomfortable eating out,” famous CEO Peyton throughout Thursday’s name.
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