News
Wendy's net off 72 percent
April 23, 2008
DUBLIN, Ohio — Comparable-store sales at Wendy's International Inc. restaurants fell 0.1 percent for U.S. franchise-operated restaurants for the first quarter ended March 30. First-quarter comps at U.S. company-operated restaurants fell 1.6 percent.
The Easter holiday fell in the first quarter this year as opposed to the second quarter a year ago, which negatively impacted same-store sales at company restaurants by an estimated 0.3 percent, company officials said. First-quarter sales also were impacted by severe winter weather in March in the Midwest and the North.
Revenues for the quarter were $582.2 million, down 1.4 percent compared with revenues of $590.2 million for the first quarter of 2007. Net income for the first quarter was $4.1 million, down 72 percent from net income of $14.7 million for the 2007 first quarter.
There were 6,622 Wendy's restaurants in operation as of March 30, 2008, compared with 6,658 at this time last year.
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