Wendy's net drops 58 percent
February 1, 2007
DUBLIN, Ohio — Revenues at Wendy's International Inc. were $2.4 billion for 2006, roughly equivalent to revenues for 2005, the company announced in an earnings release.
Net income for the year was $94.3 million, down 58 percent from the company's previous net income of $224.1 million.
Same-store sales for the year increased 0.8 percent for U.S.-based company-owned restaurants and 0.6 percent for U.S.-based franchised restaurants. Wendy's finished the year with seven consecutive months and three consecutive quarters of positive same-store sales.
Wendy's and its franchisees opened a total of 122 new restaurants during the year, consisting of 25 company-operated and 80 franchised restaurants in North America as well as 16 international franchised restaurants and one international company-operated restaurant.
