by Calculated Risk on 7/26/2006 04:13:00 PM

Applebee's just missed:

System-wide domestic comparable sales for the second quarter of 2006 decreased 1.8 percent.
...
The company also reported comparable sales for the June fiscal period, comprised of the five weeks ended June 25, 2006. System-wide domestic comparable sales decreased 3.0 percent for the June period.
...
In addition, the company reported comparable sales for the July fiscal period, comprised of the four weeks ended July 23, 2006. System-wide domestic comparable sales decreased 3.6 percent for the July period
...
Lloyd Hill, chairman and chief executive officer, said, "We are disappointed that our efforts to broaden our reach have been masked by the challenging consumer spending environment. As we are uncertain as to when the environment will start to improve, we are taking a more conservative view in our outlook for the remainder of the year." emphasis added.

Notice that the results are trending down: sales decreased 1.8% for the quarter, 3.0% for June, and 3.6% for July.

Casual dining is a discretionary expense and is frequently one of the first espenses that consumers reduce during hard times. Add APPB to the list in the previous post.

UPDATE: Also impacted by the housing and consumer slowdown: Housing slowdown hits Black & Decker profits

On a conference call with analysts Wednesday, officials said the drop in retailer and consumer demand for some home improvement products provided further evidence of a housing slowdown.