The Company completed its spinoff of Tim Hortons(R) in the third quarter of 2006 and completed the sale of Baja Fresh(R) Mexican Grill during the fourth quarter of 2006. During the fourth quarter of 2006, the Company also approved the prospective sale of Cafe Express. Accordingly, the after-tax operating results of Tim Hortons, Baja Fresh and Cafe Express now appear in the “Discontinued Operations” line on the income statement.
First-quarter highlights
Total revenues were $590.2 million in the first quarter of 2007, up 2.0% compared to $578.7 million in the first quarter of 2006.
The Company and its franchisees opened a total of 11 new Wendy’s(R) restaurants during the quarter. The openings consisted of three company-operated restaurants and eight franchise restaurants. Due to closings of underperforming restaurants, the total number of systemwide Wendy’s restaurants at the end of the first quarter in 2007 was lower at 6,658, compared to 6,673 at year-end 2006 and 6,745 at the end of the first quarter in 2006.
Wendy’s International, Inc today announced its financial results for the first quarter 2007.
The Company completed its spinoff of Tim Hortons(R) in the third quarter of 2006 and completed the sale of Baja Fresh(R) Mexican Grill during the fourth quarter of 2006. During the fourth quarter of 2006, the Company also approved the prospective sale of Cafe Express. Accordingly, the after-tax operating results of Tim Hortons, Baja Fresh and Cafe Express now appear in the “Discontinued Operations” line on the income statement.
Wendy’s International, Inc. Announces 2007 First-Quarter Results
April 26, 2007 by Mark | 0 Comments
In Franchising in USA and/or Canada
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