Triarc nets Q1 loss

CHICAGO — Triarc Cos., owner of the Arby's restaurant chain, reported a net loss of $12.9 million for the first quarter. The company blamed this year's first-quarter results on an $8 million after-tax loss from the early extinguishment of debt and higher operating expenses. The company reported its first-quarter general and administrative costs almost doubled.

 

For the period, same-store sales increased 4 percent and revenue more than tripled to $292.1 million from $87.7 million. The July acquisition of RTM Restaurant Group, Arby's largest franchisee, accounted for much of the revenue boost.