Wendy's first-quarter revenue rises and beats forecasts
Updated
Updated · The Wall Street Journal · May 8
Wendy's first-quarter revenue rises and beats forecasts
6 articles · Updated · The Wall Street Journal · May 8
Revenue increased 3.3% to $540.6 million, above FactSet forecasts of $518.03 million, while adjusted earnings were 12 cents a share versus expectations of 10 cents.
Net profit fell to $22.7 million from $39.2 million a year earlier, and US same-restaurant sales dropped 7.8%, contributing to a 6.8% decline in overall systemwide sales.
Interim chief executive Ken Cook said the chain remains early in its US turnaround; growth was helped by franchise fees, advertising revenue and acquired restaurants, and Wendy's reaffirmed full-year guidance.
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