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


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