Applebee's is bringing back its dollar margarita special for the first time in three years as it seeks to boost sales.
The restaurant chain owned by Dine Brands announced that its Dollarita is back for a limited time at locations nationwide during the month of October.
The drink is "available all day, every day, but they’ll only be here in October," the company said.
The company paid for a spot during Sunday night's highly anticipated game between the New York Jets and Kansas City Chiefs to tout the limited-time offering. The title of the 16-second ad – which showcased the drink – was: "You asked. We delivered."
It's been several years since the company launched the Dollarita promotion. But it comes after Applebee's suffered a bit of a sales slump.
During the second fiscal quarter, Applebee's saw a "modest slowdown" in sales at stores that were open for at least a year, Dine Brands CEO John Peyton told analysts on an earnings call in August.
The slowdown was driven in part by traffic trends and a "slightly more hesitant consumer."
One issue Peyton noted is that "consumers are more likely to cut back on restaurant visits, then trade down to a less expensive alternative to fight inflation."
The company also said its competition leaned "heavily into promotions, which also contributed to the headwinds this quarter."
Although sales at stores open for at least a year were down 1% year over year, Peyton remained optimistic about the brand.
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"Applebee’s competes in an increasingly competitive segment of the restaurant space, and it continues to lead in value, affordability and brand awareness," he told analysts. "These are attributes that have been built and nurtured over the past decade and underpin the brand’s resilience and ongoing appeal to its loyal guests."
He also noted that the average weekly sales during the quarter remain stable and are roughly 12% above pre-pandemic levels.
