Michigan-based Meritage Hospitality Group Inc., a Wendy's franchise operator, has reported a 3.9 percent sales increase for its second quarter.
Additionally, the company's net income from continuing operations increased 78.8 percent to $1,105,000, compared to $618,000 for the same period last year.
"We are pleased with our continued earnings improvements and the operational integration of newly acquired and developed restaurants. The Image Activation program – the modernization of Wendy's restaurants – along with new restaurant acquisitions remain the focus of our 150 restaurant growth plan. We are allocating substantial resources toward Wendy's capital improvements and new store development, which we believe will ultimately accelerate sales growth as the Wendy's system transitions to a modern image," said Robert E. Schermer Jr., Meritage CEO.
The company's growth plan entails 150 restaurants by 2015.
"We are optimistic about the long-term growth and modernization prospects being developed by the Wendy's brand. The Wendy's opportunities for Meritage include revitalization of the core premium products, facility modernization-image activation, new store acquisitions, development and re-focused marketing initiatives," Schermer added.
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