011010 Wendy's Says 3Q Earnings Up 8%October 13, 2001Dublin, OH - Wendy's International Inc. said that it expects to report third quarter earnings of about $52 million, up 8% from the figure for the same quarter one year ago. The nation's third-largest hamburger chain projected earnings of 44 cents per share, up from 41 cents a share for last year's third quarter. Analysts surveyed by Thomson Financial/First Call were expecting 46 cents per share. Wendy's said lower-than-expected sales growth, weakening economic conditions, and competitive discounting affected the company's performance during the quarter. Wendy's stock fell 66 cents to close at $26.54 on the New York Stock Exchange. Wendy's has more than 5,800 restaurants in the United States, Canada and other countries. Tim Hortons has more than 2,000 restaurants, including more than 1,900 in Canada.
E-mail: sflanagan@sprintmail.com |
