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Wendy's same-restaurant sales miss estimates
November 8, 2017 / 12:45 PM / 12 days ago

Wendy's same-restaurant sales miss estimates

Nov 8 (Reuters) - U.S. burger chain Wendy’s Co on Wednesday reported a smaller-than-expected rise in third-quarter sales at established restaurants in North America, as hurricanes hit traffic at restaurants in Florida and Texas

Same-restaurant sales in North America rose 2 percent. Analysts on average were expecting same-store sales to rise 2.4 percent, according to research firm Consensus Metrix.

Net income fell to $14.3 million, or 6 cents per share, from $48.9 million, or 18 cents per share, in the quarter ended Oct. 1, in part due to higher commodity costs and tax rate.

Revenue fell 15.4 percent to $308 million, mainly from the company selling 249 restaurants to franchisees.

Reporting by Uday Sampath Kumar and Karina Dsouza in Bengaluru; Editing by Bernard Orr

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