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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