Wendy's Co on Wednesday reported quarterly revenue and profit above estimat...
- Wendy’s Co on Wednesday reported quarterly revenue and profit above estimates, as the burger chain was helped by higher royalty fees from franchisees and its new premium burgers that come with avocado and bacon.
Wendy’s also had three successful promotions during the quarter, which included a $5 giant Jr. bacon cheeseburger and a ‘Biggie Bag’ combo offer, which was $1 more than its previous ‘4 for $4’ value deal. Gordon Haskett analyst Jeff Farmer said there was a “clear shift” toward slightly higher priced value meal structure offered by restaurants, which also help drive traffic and profits.
Total revenue rose 7.4 percent to $408.6 million for the first quarter ended March 31, beating analysts’ estimates of $399.8 million, while same-store sales in North America met expectations.
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