Net income for The Wendy’s Co. swung positive to $12 million in the June 30-ended second quarter, compared with a $5.5-million net loss a year earlier, when a higher pretax charge on the early extinguishment of debt negatively affected results. The 6,500-unit chain announced plans to refranchise about 425 company-owned restaurants in a long-term move to further improve profit margins for the Dublin, Ohio-based company. Restaurant-level margins at company-operated locations rose 2.6 percent from a year earlier to 16.7 percent of sales.
NET INCOME
Result: $12 million, or 3 cents per share% Increase: 318% (from $5.5 million loss, or -1 cent per share)
REVENUE
Result: $650.5 million% Increase: 0.7% (from $645.9 million)
SAME-STORE SALES
% Increase: 0.4% at company-owned units, 0.3% at franchised locationsSource: Company report
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Contact Mark Brandau at [email protected].
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