Wendy’s Q1 Sales Slip 5.5% as International Growth and China Expansion Signal Turnaround
Wendy’s reported a softer first quarter as global systemwide sales fell 5.5% to $3.2 billion, pressured by weaker US same-restaurant sales, even as its international business continued to grow.
The burger chain posted reported net income of $22.7 million, adjusted EBITDA of $111.3 million and diluted earnings per share of $0.12.
Ken Cook, Interim CEO said the quarter reflected “a business in the early stages of a turnaround,” but said it is seeing progress in its...
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