Wendy's profit tops Wall Street's expectations
Wendy's new value menu and focus on premium burgers helped its fiscal fourth-quarter net income top Wall Street expectations, the hamburger chain said Thursday.
Wendy's push to position itself on the higher end of the fast-food pecking order seems to have gained traction. Wendy's has also begun revamping restaurants with a look with causal seating areas more reminiscent of fast-casual chains such as Panera Bread Co.
Wendy's net income jumped to $22.4 million, or 6 cents per share, for the fourth quarter. That's up sharply from $4 million, or 1 cent per share, a year earlier. Revenue increased 2 percent to $629.9 million from $615 million.
- Associated Press
Comment threads are monitored for 48 hours after publication and then closed.
