Wendy’s to refranchise another 500 restaurants

Wendy’s to refranchise another 500 restaurants

Company targets 5-percent corporate ownership by 2016

The Wendy’s Co. will sell another 500 company-owned restaurants to franchisees by mid-2016 in an effort to reduce corporate ownership of restaurants to 5 percent of its 6,500-unit system, the company said Tuesday.

“As we look to 2015 and beyond, we plan to continue improving the quality of our earnings by growing same-restaurant sales, expanding margins and evolving our plans for system optimization,” Wendy’s CEO Emil Brolick said in a statement.

The company could sell

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