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VOL. 36 | NO. 44 | Friday, November 02, 2012
Wendy's loss widens amid turnaround push
NEW YORK (AP) — Wendy's says its net loss widened in the third quarter as it paid off debt, but noted that a key sales figure rose.
The company, which is in the midst of a turnaround push, says revenue at restaurants open at least 15 months rose 2.7 percent, marking the sixth straight quarter of growth.
For the three months ended Sept. 30, The Wendy's Co. lost $26.2 million, or 7 cents per share, as it booked charges for the early retirement of debt. It posted a loss of $4 million, or a penny per share, a year ago.
Not including one-time items, Wendy's says it earned 3 cents per share. Analysts expected 5 cents.
Total revenue rose 4 percent to $636.3 million. Analysts forecast $640.6 million.
Wendy's is based in Dublin, Ohio.