The Wendy’s Company (NASDAQ: WEN) reported preliminary, unaudited results for the fourth quarter and fiscal year ended Dec. 30, 2012. The Company plans to release its audited financial statements on Feb. 28, 2013.
“We are pleased with progress we made in 2012, as our brand transformation accelerated with Image Activation and our ‘A Cut Above’ brand positioning gained traction with consumers,” said President and Chief Executive Officer Emil Brolick. “Our 2012 North America same-store sales growth of 1.6 percent and record-high average annual restaurant sales of $1.48 million are evidence that our growth initiatives are beginning to work. While our fourth-quarter same-store sales were slightly negative, they increased 4.9 percent on a two-year basis as we rolled over the successful introduction of Dave’s Hot ‘n Juicy™ cheeseburgers a year ago.
“We are confident that our strong balance sheet, financial flexibility and excellent cash flow provide us the capacity to fund our Image Activation initiative and also return capital to shareholders in the form of dividends and share repurchases,” Brolick said.
WEN – Preliminary Fourth-Quarter 2012 Summary
- Consolidated revenues were $629.9 million, an increase of 2.4 percent compared to $615.0 million in the fourth quarter of 2011.
- Wendy’s North America Company-operated restaurant same-store sales decreased 0.2 percent during the fourth quarter, compared to a 5.1 percent increase a year ago. Franchise same-store sales in North America decreased 0.6 percent during the quarter.
WEN Preliminary Full-Year 2012 Summary
- Consolidated revenues were $2.505 billion, an increase of 3.0 percent compared to $2.431 billion in 2011.
- Wendy’s North America Company-operated restaurants generated a same-store sales increase of 1.6 percent during 2012. Franchise same-store sales in North America also increased 1.6 percent during the year.
- Company-operated restaurant margin was 14.0 percent in both 2012 and in 2011.
2012 Domestic and International Restaurant Portfolio
As of Dec. 30, 2012, the Company’s total number of worldwide restaurants was 6,560, including 6,186 restaurants in North America and 374 restaurants outside of North America.
WEN – Reiterates 2013 and Long-Term Outlook
For 2013, the Company reiterated its preliminary outlook for Adjusted EBITDA of $350 million to $360 million, a 5 to 8 percent increase compared to $333.3 million in 2012.
About The Wendy’s Company – WEN
The Wendy’s Company (WEN) is the world’s third-largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company-operated restaurants in the United States and 26 countries and U.S. territories worldwide.
More Posts by this author
- Stocks End Higher on Strong Economic Data
- Gold Prices Settle Higher; Silver Prices Also Gain
- Stocks Headed for a Strong Finish
- Stocks in Green in Mid-Day Trading
- Stryker – SYK – To Acquire Trauson Holdings Company Limited
- Aviva Plc (ADR) – AV – Sale of stake in Malaysian joint venture
- iGATE – IGTE – Earnings Better Than Estimates by $0.07
![]() |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|