000901 Wendy's August Same-Store Sales Up 4.6%

Dublin, OH - Wendy's International Inc. said that sales at its restaurants open at least a year rose 4.6% in August as the company got a boost from restaurants open late at night.

Wendy's said same-store sales for the August period, which ended Sept. 3, at its Tim Hortons restaurants in Canada grew by a range of 7% to 8% on top of a 12.7% increase a year ago. Tim Hortons' U.S. same-store sales were up 10.5% in the August 2000 period.

“Wendy's same-store sales growth is on track for the year and Tim Hortons continues to perform above our expectations,” said Jack Schuessler, chief executive officer and president, in a statement.

“Our Mozzarella Chicken Supreme promotional sandwich did extremely well in August,” said Tom Mueller, president and chief operating officer of Wendy's North America, in a statement.

Mueller also said that the company's late-night programme continues to grow.

Iced cappuccino drink and a successful Timbits bite-sized promotion contributed to growth at Tim Hortons, the company said.

The company also reiterated a statement it made earlier this month that it raised its goal for earnings per share growth, excluding asset gains, to a range of 14% to 17% in 2000.

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