Wendy's to remodel, open new stores
Jan. 30, 2012
by Meat&Poultry Staff
DUBLIN, Ohio – The Wendy’s Co. unveiled plans to build 20 and remodel 50 company-operated restaurants in the United States and Canada in 2012 with new contemporary designs. The move follows the opening of 10 “Image Activation” restaurants in 2011.
The company also plans to test the designs with select franchisees this year.
Separately, Wendy’s said that preliminary adjusted EBITDA for the full year ended Jan. 1, 2012, was $331.1 million, down 3 percent from $341.9 million in the same period a year ago. Preliminary operating profit was $137.1 million, down 9 percent from $150.4 million, while consolidated revenues were $2.431 billion, up 2 percent from $2.375 billion in fiscal 2010.
“In the fourth quarter, we produced our strongest same-store sales growth since the second quarter of 2004 primarily due to the introduction of our premium Dave’s Hot ‘N Juicy cheeseburger line, which received a positive response from consumers,” said Emily Brolick, president and chief executive officer. “For 2011, we also generated positive transactions for the first year since 2002.”
Wendy’s will release full fiscal 2011 results on March 1.