“(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. (Reporting byAditi Shrivastava in Bangalore and Lisa Baertlein in Los Angeles; Editing by Joyjeet Das)”
If you enjoy the content at iBankCoin, please follow us on Twitter
Reading about Wendy’s makes me hungry! I like their chili and their caesar salad!