News
Wendy's YTD profit doubles
July 25, 2007
DUBLIN, Ohio — Comparable-store sales at Wendy's International Inc. rose 0.7 percent in the second quarter ended July 1, 2007, the company announced. Wendy's has produced 13 straight months of positive comps.
Revenues at the burger chain were $633 million for the quarter, down slightly from revenues of $634 million in the second quarter of 2006. Year-to-date, revenues remained at $1 billion.
Net income for the second quarter was $29 million, compared with a loss of $29 million for the 2006 second quarter. Net income for the first six months of the year was $44 million compared with net income of $22 million for the same period last year.
Wendy's rolled out several new menu offerings in the second quarter, including its Steakhouse Double-Melt cheeseburgers in April, its Frosty Float and 99-cent Buffalo Crispy Chicken sandwich in May, and its new $1.99 Triple Stack cheeseburger in June.
In May, the company announced its new Wendy's Custom Bean coffee, a proprietary blend of Folgers Gourmet Selections. And in July, Wendy's began promoting the Baconator, its new hamburger featuring a half-pound of beef, six strips of bacon, American cheese, ketchup and mayonnaise.
Wendy's plans to offer breakfast in more than 650 restaurants by August, according to the company.
Related Media
Subscribe
Get the latest news and resources from QSR Web.
