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Wendy’s 3rd-quarter loss widens
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Wendy’s today reported more losses for its most recent quarter.
The latest earnings report comes after Wendy’s sold the struggling Arby’s chain earlier this year and moved its headquarters back to Central Ohio. But, third quarter losses widened, in part, because of costs related to the sale of Arby’s. The restaurant sector of the economy faces higher costs for ingredients and cautious consumers. But, Wendy’s spokesman Bob Bertini says for the first time since 2003 Wendy’s drew more customers to its restaurants after it made some menu changes.
“We upgraded our entire salad line last year followed by french fries, and most recently we’ve upgraded our entire core hamburger line as well and chicken is coming, next year.” Says Bertini.
Wendy’s says it had a net loss of $4-million dollars or a penny per share. Excluding discontinued Arby’s operations, Wendy’s earned a penny per share.
The Associated Press