Applebee's talk about everything except possible sale

Kansas City Business Journal - Kansas City, MO, USA - Shareholders at Applebee's International Inc.'s annual meeting on Friday learned little about the elephant in the neighborhood -- the company's effort to increase shareholder value, possibly through a sale.

CEO Dave Goebel shed no new light on progress by the casual dining chain (Nasdaq: APPB) in considering a sale. He said the company's board and a special strategy committee are considering second-round offers from potential buyers, but that there was no assurance the company would pursue those offers.

Company executives didn't field questions specifically about buyout offers or in which direction the strategy committee is leaning in its considerations. In addition to purchase offers, the committee is evaluating a recapitalization, as well as looking at returns on capital, overhead cost structure, improving same-store sales, the mix of franchise and company-owned restaurants, and securitization of its royalty income stream.