Denny’s (DENN) Q4 2019 Earnings Call Transcript

Denny’s (DENN) Q4 2019 Earnings Call Transcript

I'd like to turn the conference over to Curt Nichols, vice president, investor relations, and financial planning and analysis.. With me today from management are John Miller, Denny's chief executive officer; Mark Wolfinger, Denny's president; and Robert Verostek, Denny's senior vice president and chief financial officer.. With that, I will now turn the call over to John Miller, Denny's chief executive officer.. Remodels, including the new Heritage 2.0 prototype, will continue to provide a tailwind for our brand revitalization strategy for years to come.. Turning to our refranchising and development strategy, we completed the sale of nine restaurants in the fourth quarter, resulting in a total of 113 restaurants sold since the announcement of our strategy in the fourth quarter of 2018.. The refranchising strategy has yielded commitments to develop 78 new domestic restaurants, successfully achieving one of our primary objectives to stimulate domestic restaurant growth.. The initiatives will continue to support our commitment to profitable sales growth, market share gains, the generation of compelling returns on invested capital and highly accretive and shareholder friendly allocations of adjusted free cash flow.. To better equip us for continued success, we announced the realignment of some leadership positions last week, including the