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Wendy's adjusted profit misses Street
November 8, 2012 / 1:07 PM / 5 years ago

Wendy's adjusted profit misses Street

Nov 8 (Reuters) - Wendy’s Co, the second-largest U.S. hamburger chain, reported an adjusted quarterly profit that missed Wall Street’s view as labor and marketing costs rose.

The company reported a bigger net loss of $26.2 million, or 7 cents per share, for the third quarter compared with a net loss of $3.9 million, or 1 cent per share, a year earlier.

Excluding a pretax charge of about $50 million from early extinguishment of debt, Wendy’s reported adjusted earnings from continuing operations of 3 cents per share.

Revenue rose 4.1 percent to $636.3 million. Same-store sales at established Wendy’s North America company-operated restaurants rose 2.7 percent.

Analysts on average had expected a quarterly profit of 5 cents per share on revenue of $640.15 million, according to Thomson Reuters I/B/E/S.

Shares of the Dublin, Ohio-based chain closed at $4.26 on the Nasdaq on Wednesday.

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