Tag Archive | "Wendy’s new design"

Meritage Reports Acquisition of Wendy’s Restaurants and New Restaurant Developments


Meritage Reports Acquisition of Wendy's Restaurants and New Restaurant Developments

Meritage Hospitality Group, Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today announced it has acquired four additional Wendy’s restaurants in Jacksonville, FL, began development on its second Wendy’s “image activation” remodel in Mt Zion, GA, and commenced construction of a Wendy’s restaurant in Jacksonville FL, scheduled to open in the spring of 2014.

“We wish to welcome our many new employees in Jacksonville, FL to the Meritage family,” stated Robert E. Schermer, Jr., CEO of Meritage. The Company plans to implement major capital improvements in the newly acquired Wendy’s locations, beginning with the installation of the Company’s comprehensive back-of-house operating and accounting systems, along with key brand initiatives designed to contemporize the total guest experience. “Reimaging and modernization of Wendy’s restaurants remains a hallmark of our growth strategy and future workforce opportunities,” added Mr. Schermer.

Meritage is a growth oriented restaurant company focused on the development of new restaurants and operating efficiencies through its web-based operating platform. The Company continues to invest in people and infrastructure to support the long-term fundamentals of the Wendy’s restaurant brand transformation. The Company operates 118 quick service and casual dining restaurants in six states including Florida, Georgia, Michigan, North Carolina, South Carolina and Virginia.

The Company is headquartered in Grand Rapids, MI and employs a workforce of approximately 3,900 people. The Company’s public filings can be viewed at www.otcqx.com under the stock symbol MHGU, or at the Company’s website, www.meritagehospitality.com.

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Wendy’s Considers Closing up to 130 Restaurants


Wendy’s is still working on a major brand renovation to become slimmer and sleeker, which involves the modernization of its restaurants. The company revealed that it is considering shutting down as many as 130 locations that aren’t doing enough business to justify the costs of renovations. The Image Activation program started two years ago as a way to help Wendy’s boost their branding so they can be more prepared to take industry giants like Burger King and McDonald’s.

The program is on track to remodel at least half of the company owned stores by 2015, which totals about 300 locations. 58 stores have received the upgrades so far and 100 franchised locations will be covered during 2013. The program continues to gather steam as the executives review sales records and note the average 25% increase in sales experienced at the new stores. Wendy’s is reaching out to include franchisees in the deal now. Three tiers of remodeling and rebuilding are available to allow owners to choose how much they’re going to invest in their store. 25 new company owned locations and 40 franchise locations are also on the menu for opening this year.

Source: The Columbus Dispatch

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Wendy’s Embraces Contemporary Look


Wendy's Embraces Contemporary Look
On February 25, the new contemporary Wendy’s logo will begin appearing in Wendy’s advertising, on product packaging, crew uniforms, new restaurant signage, menuboards and digital assets.  The evolved logo is contemporary and iconic, as it further emphasizes the Wendy cameo while retaining the familiar Wendy’s “wave” design.

“Wendy’s brand transformation is re-energizing all of our touch points with consumers,” said Emil Brolick , President and Chief Executive Officer.  “We’re transforming our brand – from bold restaurant designs to innovative food that consumers want, to improved customer service.  This exciting evolution of our brand reinforces our mission to position Wendy’s as A Cut Above.”

This logo signals change – connecting consumers to Wendy’s new offerings and fresh look. The ongoing Wendy’s brand transformation includes the following new or recently-launched components:

Packaging, including cups, bags and other items, has a fresh new look which will roll out in restaurants beginning March.

Wendy's Embraces Contemporary Look

New Crew Uniforms are coming to Wendy’s throughout North America starting in June.  The designs are professional, stylish and contemporary.
Wendy's Embraces Contemporary Look

Menu Innovations continue to emphasize high quality ingredients, fresh preparation and menu variety. Wendy’s introduced the Right Price Right Size Menu, a greatly expanded value menu including six items at 99 cents and many others ranging from 99 cents to $1.99*.  Wendy’s is currently offering a premium North Pacific Cod sandwich for a limited time this Lenten season.  Product innovation over the past few years includes Dave’s Hot ‘N Juicy Cheeseburgers with fresh, never frozen premium beef**, Asiago Ranch Chicken Sandwich, a line of premium salad entrees, center-cut Applewood Smoked Bacon and skin-on russet potato French Fries sprinkled with sea salt.

The new Image Activation restaurants feature bold, sleek, ultra-modern designs that greatly enhance the customer experience. Features include lounge seating with fireplaces, flat-screen TVs, Wi-Fi and digital menuboards.  As of Jan. 31, 2013, more than 75 Image Activation restaurants were reimaged or newly constructed.  Another 200 reimages are planned this year throughout North America and new designs are under way in international markets.  The goal is to reimage 50 percent of Company restaurants in North America by the end of 2015.  Average sales volumes for Image Activation restaurants have increased more than 25 percent over the prior year.

Wendy's Embraces Contemporary Look

Wendy's Embraces Contemporary Look

Wendy's Embraces Contemporary Look

Wendy's Embraces Contemporary Look

The company’s Engagement with Consumers, especially in the digital world, continues to expand. Wendy’s recently launched its biggest digital effort yet – the “Claim Your Taste” experience, www.claimyourtaste.com. This is the first of a three-part yearlong effort to support the Right Price Right Size Menu.  Wendy’s mobile nutrition app allows customers to personalize meals based on the amount of calories and save as their favorites.  Also, a complete overhaul of www.wendys.com will premiere this spring.

Re-energized Advertising introduced nearly a year ago is resonating with consumers. Research shows even more people are talking about the advertising and engaging with the brand in social media.

“Every brand evolves over time to maintain relevance with consumers,” said Craig Bahner , Chief Marketing Officer.  “We’re transforming our brand to signal a new dynamic company that’s listening and responding to consumer needs.”

To see Wendy’s transformation over the years, visit: http://www.aboutwendys.com/uploadedFiles/Content/News/Brand-Transformation-Infographic-WENDYS.pdf.

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Meritage Reports Year-End Acquisition of 19 Wendy’s Restaurants and Grand Opening of 111th Restaurant


Meritage Reports Year-End Acquisition of 19 Wendy's Restaurants and Grand Opening of 111th Restaurant

Meritage Hospitality Group, Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today announced it has acquired two Wendy’s franchised portfolios consisting of nine Wendy’s restaurants in Atlanta, GA, and ten Wendy’s restaurants in Richmond, VA. In addition, the Company has opened a new Wendy’s restaurant located on Trout River Road in Jacksonville, FL marking its 111th restaurant in operation.

“We welcome our 500 new employees in Atlanta, Richmond and Jacksonville to the Meritage family,” stated Robert E. Schermer, Jr., CEO of Meritage Hospitality Group, Inc. “The strength of our web-based operating platform, and the brand reimaging and modernization of Wendy’s restaurants remains a hallmark of our growth strategy and workforce opportunities,” added Mr. Schermer.

The Company plans to implement major capital improvements in its acquired Wendy’s locations, beginning with the installation of the Company’s comprehensive restaurant back-of-house operating and accounting systems, along with “Image Activation” and other key brand initiatives designed to contemporize both the interior and exterior guest experience.

The transactions represent the Company’s completion of seven Wendy’s acquisitions in recent years. The acquisitions were financed utilizing an acquisition credit facility with First Franchise Capital Corporation, the Company’s primary Wendy’s restaurant lender. The combination of the acquisitions and newly opened restaurant will add approximately $27.0 million in annual sales and is forecasted to be materially accretive to EBITDA and net earnings per common share in 2013.

Meritage continues to invest in the long-term fundamentals of the Wendy’s restaurant brand and remains committed to the installation of its web-based restaurant operating platform. The Company currently operates 111 restaurants in six states including; Atlanta, Georgia; Grand Rapids, Michigan; Jacksonville, Florida; North Carolina; South Carolina and Richmond, VA.

The Company is headquartered in Grand Rapids, MI and employs a workforce of approximately 3,500 people. The Company’s public filings can be viewed at www.otcqx.com under the stock symbol MHGU, or at the Company’s website, www.meritagehospitality.com.

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Wendy’s Says Value is on the Menu for Marketing Next Year


Customer traffic at Wendy’s has been “flat to slightly down” this year, Chief Financial Officer Steve Hare told investors at a conference Wednesday. “I think one of the reasons…is because we’ve been more effective on the premium side than on the value side,” he added.

Wendy’s is in the midst of revitalizing its image and menu, in hopes of becoming viewed as “a cut above” traditional fast food. The chain’s premium burgers, salads and sandwiches also generate higher profit margins and have thus been of greater interest to franchisees.

“We’re so large; we also have to be competitive on the value side of the business,” Mr. Hare said. “And that’s one of the areas where we’ve been inconsistent.”

For 2013, Wendy’s is working with franchisees to come up with a core menu of 99-cent items that every location will offer, and then another grouping of slightly higher-priced signature items and more-filling foods that still represent value.

Continue reading . . .

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Wendy’s Transformation Producing Positive Results


Wendy's Transformation Producing Positive Results

Wendy’s is in the midst of a comprehensive transformation to contemporize the brand and dramatically improve the customer experience. Consumers are responding, as evidenced by:

  • Five consecutive quarters of positive same-store sales at Company-operated restaurants*
  • 2012 ZAGAT SURVEYrating Wendy’s as the Top Overall Mega Chain
  • Wendy’s top ranking for customer satisfaction among hamburger chains in the “limited-service” category by the American Customer Service Satisfaction Index (University of Michigan survey)
  • Wendy’s No.1 speed-of-service ranking in the 2012 QSR Drive-Thru Survey, a proprietary report by QSR

“We are improving the total customer experience, with bold restaurant designs, fresh product innovation, more engaging advertising and digital media advancements,” said Emil Brolick, President and Chief Executive Officer. “The transformation is already resonating with consumers and we’re building momentum, especially with our Image Activation restaurants that position our brand as ‘A Cut Above’ the competition. Today, we are unveiling the first Wendy’s brand logo change in nearly 30 years, and next March we will introduce it across all of our consumer touch points. This is a very exciting time for Wendy’s.”

Key initiatives of Wendy’s brand transformation include:

  • New “Image Activation” restaurants that feature bold, sleek, “ultra-modern” designs that greatly enhance the customer experience. Design features include lounge seating with fireplaces, flat-screen TVs, Wi-Fi and digital menuboards. The reimages completed so far have generated a range of strong sales increases, averaging more than 25 percent.  By year-end Wendy’s expects to have completed a total of 75 re-imaged restaurants since the program began in 2011, and will accelerate the pace of Image Activation rebuilds and remodels in 2013 and 2014. The Company plans to reimage 50 percent of its Company-operated restaurants by the end of 2015. The Company is also providing a total of up to $10 million in incentives to franchisees to re-image their restaurants in 2013.
  • A new advertising campaign premiered this past spring and is resonating with consumers.  Ad awareness has risen eight points in the first five months of the campaign, according to independent industry research.  The campaign features Wendy Thomas, the Company’s namesake, who speaks to Wendy’s values and tradition of quality, along with “RED,” a young female red-head who engages consumers and presents signature menu offerings in a witty and helpful way.
  • Menu Innovations with greater emphasis on fresh ingredients and fresh preparation. Dave’s Hot ‘N Juicy Cheeseburgers – made with 100 percent pure, North American, fresh never frozen beef – were introduced in 2011.**  They feature thicker patties and premium toppings. Four new entree salads with craveable ingredients have been created, along with a seasonal Berry Almond Chicken Salad, featuring fresh strawberries and blueberries. Wendy’s also has introduced russet potato French Fries with sea salt; center-cut, Applewood Smoked Bacon; and other high quality ingredients that spawned specialty sandwiches like the Asiago Ranch Chicken sandwich. Recent introductions include the Spicy Chicken Guacamole sandwich, Sweet Baked Potato, Son of Baconator and the new Bacon Portabella Melt.
  • Wendy’s has aggressively moved into the digital marketing space, and was recognized as the overall No. 2-ranked company in the Nation’s Restaurant News Restaurant Social Media Index. The Company is connecting with consumers by reaching them when, where and how they prefer. A new Mobile Nutrition app allows customers to personalize meals based on the amount of calories they choose. The Company plans to offer more options in future app updates.

Wendy’s to Introduce New Contemporary Logo in March 2013

The ongoing brand transformation will extend to Wendy’s new logo in March 2013, when a contemporary look will be introduced on packaging, advertising, crew uniforms, restaurant signage, menuboards and websites.

The evolved design for the logo is contemporary and iconic, as it further emphasizes the Wendy’s cameo while retaining the familiar Wendy’s “wave” design.

“We want the most prominent symbol of our brand to reflect the transformation that’s currently under way,” said Craig Bahner, Chief Marketing Officer. “Our refreshed logo signals the innovation and fresh thinking taking place at Wendy’s, while reinforcing that we are staying true to our values as a distinct and beloved brand.”

The new brand logo was designed by Tesser, an award-winning design firm based in San Francisco.

The Wendy’s Company is the world’s third largest quick-service hamburger company.  The Wendy’s system includes more than 6,500 franchise and company restaurants in the U.S. and 27 countries and U.S. territories worldwide.  For more information: www.wendys.com, or www.aboutwendys.com.

* Same-store sales at Company-operated restaurants through the second quarter ended July 1, 2012.
** Fresh beef is available in the contiguous United States and Canada.

 

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Wendy’s Unveils Innovative Restaurant Design


Wendy's Unveils Innovative Restaurant Design

Customers will experience an urban new Wendy’s® when they visit the remodeled restaurant at 6740 E. Broad St, Columbus OH 43213.

A grand re-opening will be held on September 24, 2012 at 10am when the restaurant opens to the public.

“This restaurant features an innovative interior and exterior design, and there are only a few like it in the country,” said Swaran Gill, the Field Marketing Manager for Wendy’s International.   “It’s very different from what our customers are used to but we think they’ll really like the look and feel of the restaurant.”

The company conducted nationwide research and studied every aspect of the customer’s restaurant experience.  Based on this feedback, Wendy’s completely overhauled the interiors and exteriors of four different designs. This restaurant’s updates feature an urban design displayed on both the interior and exterior of the store. The Wendy’s motto, “Quality is our recipe”, appears on the front of the building to highlight our quality food and fresh preparation. The large windows brighten the dining room and bring the outdoors in. This store is made up of a mixture of both natural materials and attractive landscaping.

The interior showcases open, bright dining areas, with multiple seating options, including private booths, cozy lounge seating, and a Wi-Fi bar.  Other amenities include flat panel TVs and free consumer Wi-Fi.  The restaurant will also have a new customer ordering process, digital menuboards, and the Coca-Cola Freestyle Machine – a touch screen, self-serve fountain that offers over 100 regular and low-calorie beverages including a variety of branded waters, sports drinks, lemonades and sparkling beverages.

“These new remodels are part of a multi-year strategy to reinvigorate our brand and the way our customers interact with us,” Gill said.  “This brand strategy involves completely re-imaging our entire menu, new advertising and marketing, new restaurant apparel and product packaging.  We are making great progress in all of these areas, and we think our customers will be surprised and excited about their new Wendy’s.”

Three other restaurant designs are being tested in multiple cities across North America.

The Wendy’s Company (NASDAQ: WEN) is the world’s third largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company restaurants in the United States and 27 countries and U.S. territories worldwide. For more information, visit aboutwendys.com or wendys.com.

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The Wendy’s Company Reports Audited Fourth-Quarter and Full-Year Results for 2011


The Wendy’s Company (NASDAQ: WEN) today reported its audited results for the fourth quarter and full year ended Jan. 1, 2012 in its Form 10-K filing with the Securities and Exchange Commission. The Company had previously issued preliminary results for the 2011 fourth quarter and full year in conjunction with its Investor Day on Jan. 30, 2012. The audited results are the same as the preliminary results.

The Company’s comparative Consolidated Statements of Operations for the fourth quarter and full year and the Company’s comparative balance sheet data appear at the end of this news release. See “Disclosure Regarding Non-GAAP Financial Measures” below for a reconciliation of the non-GAAP measures (i.e., Adjusted EBITDA and Adjusted Earnings Per Share) that appear in this release. References in this release to earnings per share and Adjusted Earnings Per Share reflect earnings per share from continuing operations and Adjusted Earnings Per Share from continuing operations, respectively.

Highlights from 2011 disclosed in the Form 10-K filing include the following:

  • Wendy’s® North America Company-operated restaurants generated a full-year same-store sales increase of 2.0 percent.
  • The Company’s U.S. Average Unit Volume (AUV) grew to an all-time high of $1.46 million.
  • The Wendy’s system opened 89 new restaurants and closed 71 restaurants, for a net increase of 18 new restaurants, bringing the total number of worldwide restaurants to 6,594.

Fourth-Quarter 2011 Summary

  • Consolidated revenues were $615.0 million in the fourth quarter of 2011, a 5.6 percent increase compared to $582.6 million in the fourth quarter of 2010.
  • Adjusted EBITDA was $80.9 million in the fourth quarter of 2011. This compares to fourth-quarter 2010 Adjusted EBITDA of $73.2 million.
  • Fourth-quarter 2011 income from continuing operations was $4.3 million. This compares to fourth-quarter 2010 income from continuing operations of $6.1 million.
  • Adjusted Earnings Per Share were $0.04 in the fourth quarter of 2011 compared to fourth quarter 2010 Adjusted Earnings Per Share of $0.03. Earnings per share were $0.01 in both the fourth quarter of 2011 and the fourth quarter of 2010.

Full-Year 2011 Summary

  • Consolidated revenues were $2.431 billion in 2011, a 2.4 percent increase compared to $2.375 billion in 2010.
  • Adjusted EBITDA was $331.1 million in 2011. This compares to Adjusted EBITDA of $341.9 million in 2010.
  • Income from continuing operations was $17.9 million in 2011. This compares to 2010 income from continuing operations of $18.1 million.
  • Adjusted Earnings Per Share were $0.15 in 2011 compared to 2010 Adjusted Earnings Per Share of $0.17. Earnings per share were $0.04 in 2011 and 2010.

Company Moving Forward with “Image Activation” to Contemporize Brand, Reinforce “A Cut Above” Positioning

As highlighted at Wendy’s Jan. 30 Investor Day, the Company is excited about the potential of its new “Image Activation” restaurant remodeling program. The Company reimaged 10 restaurants in 2011 with new exterior and interior building designs, and a comprehensive makeover of the entire customer experience. The Company plans to remodel an additional 50 restaurants and build 20 new units in 2012.

“Customer feedback on the 10 Image Activation restaurants we remodeled during 2011 has been very positive, and sales growth has exceeded our expectations,” said President and Chief Executive Officer Emil Brolick. “Based on these results, we are targeting a return on this remodeling investment of approximately 15 percent and intend to use our balance sheet and cash flow to fund the program. As we validate these returns, we will also begin to work with our franchisees to develop financing sources for this reimaging program.”

Wendy’s plans to invest between $750,000 and $850,000 in a typical Image Activation remodeled restaurant during 2012. The Company is value engineering the current prototype and expects to generate economies of scale to produce a lower per-unit investment level for 2013 and beyond.

Company Pursuing Growth in North America and International Markets

In 2012, Wendy’s plans to open 20 company-operated restaurants and expects franchisees to open 40 restaurants in North America.

In addition, the Company expects to open 55 new franchise or joint venture restaurants in International markets, bringing the Company’s restaurant count outside of North America to more than 400 by the end of 2012. In 2011, Wendy’s re-entered two major international markets – Japan and Argentina – and expects to enter additional new markets in 2012.

In 2011, Wendy’s offered its new breakfast menu in multiple markets across the United States. Wendy’s plans to expand breakfast to a new market in the Northeast and selected company remodels and new builds planned for 2012. The Company also plans to expand its late-night hours in the current year.

Capital Expenditures

As a result of its growth initiatives, the Company is increasing its total capital spending plans for 2012 to $225 million, a $78 million increase over last year. The 2012 estimate includes $80 million for new restaurants and remodels, $65 million for restaurant maintenance and equipment, which includes completing the installation of new point-of-sale hardware in all Company restaurants, and $20 million for product development.

Company Reaffirms 2012 and Longer-Term Outlook

The Company reaffirmed its outlook for 2012, including Adjusted EBITDA of $335 million to $345 million, which it originally issued at its Jan. 30 Investor Day. The outlook reflects continuing operations and excludes items such as relocation costs and other expenses related to the consolidation of the Atlanta restaurant support center with the Dublin, Ohio restaurant support center, which the Company estimates to be approximately $23 million.

In 2013 and beyond, the Company is targeting an average annual Adjusted EBITDA growth rate in the high-single-digit to low-double-digit range.

Arby’s Sale and Transition Services Agreement

On July 4, 2011, the Company completed the sale of Arby’s Restaurant Group, Inc., on the terms previously announced to a buyer formed by Roark Capital Group. All transition services were complete by the end of 2011. Due to the sale, the Company has presented Arby’s results as discontinued operations in its Consolidated Statements of Operations for all periods presented; however, the balance sheet data as of Jan. 2, 2011 includes Arby’s.

The Company incurred costs related to the sale of Arby’s in 2011, including changes in certain executive positions, severance costs for other employees, implementation of an employee retention program, the move of its headquarters and bonus costs. In addition, the Company announced plans to close its Atlanta restaurant support center in late 2012 and consolidate it with its Dublin, Ohio restaurant support center. The total transaction-related and other costs of these actions totaled $45.7 million in 2011.

The benefits from the Arby’s sale and consolidation of restaurant support centers include a reduction in debt and related capital spending requirements, cash tax savings and the elimination of Arby’s operating losses (which include general and administrative costs).

Forward-Looking Statements

This news release contains certain statements that are not historical facts, including, importantly, information concerning possible or assumed future results of operations of The Wendy’s Company and its subsidiaries (collectively, the “Company”). Those statements, as well as statements preceded by, followed by, or that include the words “may,” “believes,” “plans,” “expects,” “anticipates,” or the negation thereof, or similar expressions, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements that address future operating, financial or business performance; strategies or expectations; future synergies, efficiencies or overhead savings; anticipated costs or charges; future capitalization; and anticipated financial impacts of recent or pending transactions are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on our expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. Our actual results, performance and achievements may differ materially from any future results, performance or achievements expressed in or implied by our forward-looking statements. For all of our forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Reform Act. Many important factors could affect our future results and could cause those results to differ materially from those expressed in or implied by our forward-looking statements. Such factors, all of which are difficult or impossible to predict accurately, and many of which are beyond our control, include, but are not limited to: (1) changes in the quick-service restaurant industry, such as consumer trends toward value-oriented products and promotions or toward consuming fewer meals away from home; (2) prevailing economic, market and business conditions affecting the Company, including competition from other food service providers, high unemployment and decreased consumer spending levels; (3) the ability to effectively manage the acquisition and disposition of restaurants; (4) cost and availability of capital; (5) cost fluctuations associated with food, supplies, energy, fuel, distribution or labor; (6) the financial condition of our franchisees; (7) food safety events, including instances of food-borne illness involving the Company or its supply chain; (8) conditions beyond the Company’s control such as weather, natural disasters, disease outbreaks, epidemics or pandemics impacting the Company’s customers or food supplies, or acts of war or terrorism; (9) the availability of suitable locations and terms for the development of new restaurants; (10) adoption of new, or changes in, laws, regulations or accounting policies and practices; (11) changes in debt, equity and securities markets; (12) goodwill and long-lived asset impairments; (13) changes in the interest rate environment; (14) expenses and liabilities for taxes related to periods up to the date of sale of Arby’s as a result of the indemnification provisions of the Arby’s Purchase and Sale Agreement; and (15) other factors discussed from time to time in the Company’s news releases, public statements and/or filings with the Securities and Exchange Commission, including those identified in the “Risk Factors” sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q.

The Company’s franchisees are independent third parties that the Company does not control. Numerous factors beyond the control of the Company and its franchisees may affect new restaurant openings. Accordingly, there can be no assurance that commitments under development agreements with franchisees will result in new restaurant openings.

All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws. In addition, we do not endorse any projections regarding future performance that may be made by third parties.

Disclosure Regarding Non-GAAP Financial Measures

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted Earnings Per Share, which exclude certain expenses, net of certain benefits, detailed in the reconciliation tables that accompany this release, are used by the Company as a performance measure for benchmarking against the Company’s peers and competitors, and as internal measures of business operating performance. The Company believes Adjusted EBITDA and Adjusted Earnings Per Share provide a meaningful perspective of the underlying operating performance of the Company’s current business. Adjusted EBITDA and Adjusted Earnings Per Share are not recognized terms under U.S. Generally Accepted Accounting Principles (“GAAP”). Because all companies do not calculate Adjusted EBITDA, Adjusted Earnings Per Share and similarly titled financial measures in the same way, those measures as used by other companies may not be consistent with the way the Company calculates such measures and should not be considered as alternative measures of income from continuing operations or earnings per share.

Because certain income statement items needed to calculate income from continuing operations vary from quarter to quarter, the Company is unable to provide projections of income from continuing operations or earnings per share, or a reconciliation of projected Company Adjusted EBITDA to projected income from continuing operations or projected Adjusted Earnings Per Share to projected earnings per share.

The Company’s presentation of Adjusted EBITDA and Adjusted Earnings Per Share is not intended to replace the presentation of the Company’s financial results in accordance with GAAP.

About The Wendy’s Company

The Wendy’s Company is the world’s third largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company restaurants in the United States and 27 countries and U.S. territories worldwide. For more information, visit aboutwendys.com or wendys.com.

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The Wendy’s Company Plans to Build 20 and Remodel 50 “Image Activation” Company-Operated Restaurants in 2012


The Wendy’s Company has announced plans to build 20 and remodel 50 Company-operated restaurants in the U.S. and Canada in 2012 with new, bold and contemporary designs that greatly enhance the customer experience. This follows the opening of 10 “Image Activation” restaurants in 2011. Located in Columbus, Ohio, the sleek, ultra-modern restaurant features one of four designs being evaluated for inclusion in Wendy’s design portfolio. The Company also plans to test the designs with select franchisees this year.

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