as our brief for Thank afternoon, to our and results quarter. third as everyone. would like the a share now good second current of review well I trends you, Mark, quarter and expectations
informative we be XXXX same-store comparing sales a a XXXX system-wide our recovery. domestic reminder, as I of our believe and more As will comparison this consistent will provide representation to
our X.X% same-store our related sales Domestic compared pandemic. practice the the of quarter to from we results to XXXX. Sales dine-in prior in during COVID-XX reduced primarily comparing standard will benefited press to XXXX release. declined Additionally, second restrictions the continue year system-wide
and factors business, leading rooms on no industry-wide are While longer restrictions the closed capacity remain. weighing dining staffing challenges our
XX-hour XX% of to of the restaurants, Domestic our quarter, versus of which return sales domestic our increase at opened a operations availability a continues restaurants challenge open hours with XXXX second the domestic to same-store approximately mentioned, John full XX/X. XX XX% increased decrease of currently of operating being that As were X.X% With delivered approximately with XX% domestic approximately to in labor restaurants said, this opportunity growing July system-wide presents domestic operating hours. preliminary restaurants differential sales portion with ongoing of our are operating XX% a limited we system performance as that still hours. our approximately hours. with its believe results an limited We same-store extends for encouraged compared
few to on moments detail Now brands. I want virtual our a more spend providing
transactions As John maximize highly we and kitchen labor these mentioned, are leverage believe incremental to efficiency. underutilized
of check approximately underutilized to dayparts during virtual is occurred base XX% with XX% Meltdown off-premise Burger for the The weekdays base for over underutilized both leverage but and of from The Denny's virtual to Den Not brands the Den the XX% fact, average transactions to our compared weekdays the locations over-indexed XX% opportunities dayparts, Denny's dinner In from approximately base live the the occurred during only X,XXX brand, to of during compared are transaction. an transactions approximately brands at of from The brand. a the labor. providing Denny's late-night to additional brand. transactions transactions similar Approximately approximately leveraging Burger Denny's compared XX% and we
new cost, approximately has platforms range and As generating restaurant base $X,XXX to brands a average sales, the per similar in being late-night mid-XXs with labor compared fees reopened with Denny's at The on dining average are delivery actions sales brand highly average third locations margins sales $XXX. the have and given low Nearly locations generating weekly moderated, from XX% an party product off-premise are are check These and restaurant considering Meltdown efficiencies. of weekly XXX and off-premise to initial to rooms per these live transaction. approximately to after over-indexing Denny's incremental dinner and priority
to to increased $XX.X margin Franchise to revenue and the compared or improving year a Turning due million, to primarily restaurant due Company license the restaurant was million reduced $XX.X franchise up XXX.X%, margin sales was prior dine-in to from reduced to increase primarily sales million equivalent to in $X.X restrictions. were XX.X% performance improvement $X.X compared our loss of the and restrictions. $XX.X million partially dine-in restaurants XX.X% or to or to offset quarter. due the second negative prior in was margin due challenges. revenue margin quarter results. of and $X.X sales XX.X% increase improving from XX.X% in by units. This operating million operating quarter. was in a to in costs fewer company performance due or addition license payroll This Franchise benefit Company of sales at restaurants, franchise primarily year staffing XXX.X% sales million primarily improvement at lower
reductions general approximately due the $XXX,XXX X.X This credits related million recorded prior margin by CARES favorable adjustments $XX.X the expenses Act, as administrative the offset to percentage deferred in year we related cost reserve in incentive and in compared well to the were to changes which valuation share-based company and market approximately tax by plan Act. was points. liabilities. both credits These tax quarter operating temporary increases to benefited to in Additionally, $XXX,XXX were CARES Total the our approximately primarily expense performance-based and million change compensation restaurant year $XX.X prior quarter. partially in as increases in compensation compensation during addition
reminder, collectively do was and ultimate XX.X%. EBITDA quarter. to These benefit per taxes rate net impact was income to items of not $X.XX a EBITDA. Adjusted net million. changes share contribute income results share-based compared $X.X year in effective The are adjusted $XX.X share compensation the income million with $X.XX tax and from As market prior loss non-cash of expense valuation per an adjusted of adjusted
down to of we free continued generated of had facility, maintenance total $XX.X year value We cash our credit we under prior and Subsequent debt quarter. ended And quarter, conservative cash with borrowed current compared end million expenditures, capital approximately second total quarter. the revolving after The leverage bringing million facility our facility. our progress. $X pandemic second of we capital $XXX cash additional to of $XXX After the under liquidity $XXX flow credit adjusted we million to approximately covenants us liquidity hand, million included quarter, for an affirmed in on which to the $X.X capacity quarter at the of balance the million million including considering outstanding have current of the philosophy. the of our paid available the $X.X credit on $XXX remaining end second the million. a million outstanding make During
and currently more range and whereas, times As term of three between times prior such with would three pandemic we times adjusted to leverage EBITDA, are four somewhere the longer two we comfortable the between times. have targeted
end, to Our amendment. our was year EBITDA adjusted ratio calculated annualized EBITDA leverage ratio This defined quarter debt debt using prior in times. total adjusted was as X.X
pandemic. we our is LTM place ratio in total traditional adjusted facility is to Our X.X times, EBITDA with compliance debt which actually unamended credit had to in the prior
first additional million XXXX. of to $XXX day As quarter third existing million followed the and the a XXXX by XXXX. maintenance covenants levels waived XXXX, in expenditures restricted third amendment, of May Under through $XX the of quarter quarter of the third from the XXXX. reminder and took place Financial commitment amendment the $XXX on revolver an to our the the on more introduction entered third facility. December favorable first were capital XX, down quarters of of are step into credit This the reduced XXXX, through to second to we million mid covenant
quarter, available. utilized leaving an We through additional $X have the approximately million million second $X
other we paying investments are our we quarter deliver from making until Additionally, repurchases stock prohibited dividends third and results. general
practice constraints and emerging to look in our the forward while capital investing business. we shareholders long-standing returning also of from to continuing However, these
the XX, business will management's environment third anticipate and the XXXX. same-store We XXXX that in quarter economic domestic reflect, X%, change. X% expectations materially fiscal the between our current our for to to expectations, following period Turning September be system-wide sales not ending outlook, will equivalent compared
We are number net of unit encouraged the year-to-date. by lower closings
touch requirement well on forgiveness, open the for to openings to PPP guidance that period benefit as challenges that time at this early as recognize we expectations remain to of for are believe the of is a full it due unit However, labor impacting net provide of the a pace time. certain franchises to availability
franchise margin exact due and the team the members franchised view efficiency is while relatively highly timing restaurants training company less Additionally, new stable near-term model, precise to re-staffing, and pace into our our yields of of at company changes. margin a
we pre-pandemic margins. However, guided still that And a stable more appropriate target to to company XX% in environment. we XX% believe is
$XX EBITDA million. ongoing expecting staffing described, work impact just between our million as guidance hours to of general which including does Based EBITDA. are current are between our from and total we for we on expectations and approximately Our million optimistic, we expenses historic closing, $X.X our remain to adjusted XX/X overcome about $XX I not operating the and related administrative move share-based and trends. adjusted to million, challenges effective sales $XX $XX operations, million In XX compensation
business needs most I Question-and-Answer importantly, our continuously focused remarks. who entire proud want now to of while Finally, turn the our through how portion our on the to Denny's over recovery. That and the our Session the managing I call begin to franchises remained am serving of post-pandemic prepared wraps I call. have Q&A team, this up will mention and the guests, operator,
