Wendy's 2013 profit soars on refranchising benefitWendy's 2013 profit soars on refranchising benefit

The Wendy’s Co. reported growth of more than 25 percent in net income for the fouth quarter ended on Dec. 29, as well as a full-year profit that increased more than six times the net income from fiscal 2012. The Dublin, Ohio-based company also updated its guidance for 2014 to move up its expected completion date for the refranchising of 425 company-owned units to the first quarter, from a previously stated goal of the second quarter. Wendy’s operates or franchises more than 6,500 restaurants in the United States and 28 foreign markets.
 

4Q NET INCOME

Result: $33.1 million, or 8 cents per share
% Increase: 25.4% (from $26.4 million, or 7 cents per share)

4Q REVENUE

Result: $505.9 million
% Decrease: 8.7% (from $553.9 million)

4Q SAME-STORE SALES

% Increase at company-owned units: 3.1%

% Increase at franchised locations: 2.8%

Source: Company report

FULL YEAR NET INCOME

Result: $45.5 million, or 11 cents per share
% Increase: 540.8% (from $7.1 million, or 2 cents per share)

FULL YEAR REVENUE

Result: $2.17 billion
% Decrease: 1.4% (from $2.20 billion)

FULL YEAR SAME-STORE SALES

% Increase at company-owned units: 1.9%

% Increase at franchised locations: 1.7%

Source: Company report

RELATED:
• Wendy’s releases bullish outlook for 2014
• Wendy’s narrows loss in 3Q
• More restaurant finance news

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