Wendy's International (WEN) Reports October Same-Store sales
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Wendy's International, Inc. (NYSE: WEN) announced positive monthly same-store sales for the October period ending Sunday, November 5, 2006.
Preliminary October same-store sales at Wendy's company-operated restaurants were 1.8% compared to negative 2.1% in October 2005. October same-store sales at Wendy's franchised restaurants were 1.8% compared to negative 1.0% in October 2005.
The Company anticipates that its fourth-quarter beef costs will be approximately 4% lower in 2006 than in the fourth quarter of 2005, and expects to realize $5 million to $6 million in incremental interest income relative to the fourth quarter of 2005.
The Company also anticipates that it will incur additional costs in the fourth quarter, including $4 million to $8 million in pretax charges for the closure of Wendy's restaurants and approximately $3 million in pretax expense for research and development related to its breakfast test.
Preliminary October same-store sales at Wendy's company-operated restaurants were 1.8% compared to negative 2.1% in October 2005. October same-store sales at Wendy's franchised restaurants were 1.8% compared to negative 1.0% in October 2005.
The Company anticipates that its fourth-quarter beef costs will be approximately 4% lower in 2006 than in the fourth quarter of 2005, and expects to realize $5 million to $6 million in incremental interest income relative to the fourth quarter of 2005.
The Company also anticipates that it will incur additional costs in the fourth quarter, including $4 million to $8 million in pretax charges for the closure of Wendy's restaurants and approximately $3 million in pretax expense for research and development related to its breakfast test.
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