DUBLIN, Ohio — Income from continuing operations at The Wendy’s Co. was down 1 percent during 2011.
For the year ended Jan. 1, the company had income from continuing operations of $17,912,000, which compared with income of $18,111,000 during fiscal 2010. Consolidated revenues for the year were $2,431,358,000, down 2 percent from $2,375,439,000.
“Customer feedback on the 10 Image Activation restaurants we remodeled during 2011 has been very positive, and sales growth has exceeded our expectations,” said Emil Brolick, president and chief executive officer. “Based on these results, we are targeting a return on this remodeling investment of approximately 15 percent and intend to use our balance sheet and cash flow to fund the program. As we validate these returns, we will also begin to work with our franchisees to develop financing sources for this reimaging program.”
For the fourth quarter, income from continuing operations was $4,290,000, down 30 percent from $6,115,000 during the same quarter of the previous year. Consolidated revenue for the quarter was $615,018,000, up 6 percent from $582,583,000 during the same quarter of the previous year.