Shares in IHOP Corp. gained more than 2 percent Thursday after the restaurant chain owner and operator said that same-store sales rose 2.5 percent for the second quarter.
The Los Angeles-based company also said that for the first half of fiscal 2007 same-store sales rose 1.6 percent.
The company said traffic declined in the second quarter, but the average check rose due to menu-price increases implemented in late 2006.
IHOP added that it still expects to meet its same-store-sales guidance of 2 percent to 4 percent growth for the full year.
IHOP reported in April a 10 percent dip in first quarter profits along with a 2 percent rise in sales. Same-store-sales for the first quarter were up 0.5 percent.
Shares in IHOP closed up $1.16, or 2.1 percent, to $56.22 in trading Thursday on the New York Stock Exchange.