Nov 8 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.