Wendy's reports 3Q loss narrows, beats expectations
A Wendy's single with cheese large combo meal at a Wendy's restaurant in Mt. Lebanon, Pa. For the third quarter, the company said Nov. 7, 2013 that its net loss totaled $1.9 million, or break even per share, compared with a loss of $26.2 million, or 7 cents per share last year. (May 6, 2013) Credit: AP
Wendy's says its third-quarter loss narrowed as more customers snapped up offerings at its restaurants including its new Pretzel Bacon Cheeseburger.
Results beat expectations and the company raised its guidance.
The company, based in Dublin, Ohio, says sales rose 3.2 percent at restaurants open at least a year, a key retail metric.
For the quarter, Wendy's Co. says it its net loss totaled $1.9 million, or break even per share, compared with a loss of $26.2 million, or 7 cents per share last year. Excluding costs related to paying back debt early and selling some restaurants, net income was 8 cents per share.
Revenue edged up nearly 1 percent to $640.8 million.
Analysts expected a profit of 6 cents per share on revenue of $640.2 million.
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