Wendy's Q1 sales down

Wendy's Q1 sales down
Tags: Burger/Steak/BBQ, Chicken, Coffee/Bakery/Donut, Drive-thru, Franchising & Growth, Mexican, Trends / Statistics
April 26, 2006

DUBLIN, Ohio — Wendy's first-quarter earnings were down slightly. The company said its quarterly earnings declined after lower-than-expected sales at its namesake chain offset gains in strong sales at its Tim Hortons coffee shops.

Wendy's company-owned same-store sales decreased 4.8 percent compared to last year while franchise stores were down 5.2 percent. Revenues Increased 4.2 percent to $931.5 million. According to a news release, Wendy's net income was $51.23 million compared to $51.26 million last year.

Wendy's subsidiary Tim Hortons posted strong numbers. The donut chain's same-store sales increased 8.7 percent in Canada and 9.8 percent in the United States.

Baja Fresh same-store sales were down 3.7 percent.