Business
THE WENDY'S COMPANY REPORTS FIRST QUARTER 2022 RESULTS
COMPANY TO HOST VIRTUAL INVESTOR DAY ON JUNE 9 DUBLIN, Ohio, May 11, 2022 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results
About this update from Wendy's Company (the)
[{"type":"text","content":"COMPANY TO HOST VIRTUAL INVESTOR DAY ON JUNE 9\n DUBLIN, Ohio, May 11, 2022 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the first quarter ended April 3, 2022.\n\n \n \n \n \n \n \n\n \n\"We continue to make meaningful progress against our three strategic growth pillars, reinforcing the strength and resiliency of the Wendy's® brand and driving robust AUV and sales increases,\" President and Chief Executive Officer Todd Penegor said. \"We had one of our best quarters in our history for unit growth, with over 90 new restaurant openings, and are on track to reach our planned net unit growth goal of 5 to 6 percent for the year. We also competed well with Global same-restaurant sales up double digits once again on a two-year basis and increased our Global digital sales mix to over 10%. We are well positioned to win in this volatile environment, with strong franchisee alignment behind our strategies, and have strengthened our balance sheet with the successful debt raise transaction we recently completed. With sustained focus on executing against our key priorities, we are confident we will achieve our vision of becoming the world's most thriving and beloved restaurant brand.\"\nFirst Quarter 2022 SummarySee \"Disclosure Regarding Non-GAAP Financial Measures\" and the reconciliation tables that accompany this release for a discussion and reconciliation of certain non-GAAP financial measures included in this release.\nOperational Highlights\nFirst Quarter\n2022\n2021\nSystemwide Sales Growth(1)\nU.S.\n2.4%\n13.1%\nInternational(2)\n19.2%\n7.3%\nGlobal \n4.2%\n12.5%\nSame-Restaurant Sales Growth(1)\nU.S.\n1.1%\n13.5%\nInternational(2)\n14.1%\n7.9%\nGlobal\n2.4%\n13.0%\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$2,712\n$2,647\nInternational(2)\n$360\n$304\nGlobal\n$3,072\n$2,951\nRestaurant Openings\nU.S. - Total / Net\n45 / 31\n20 / 4\nInternational - Total / Net\n48 / 36\n18 / 6\nGlobal - Total / Net\n93 / 67\n38 / 10\nGlobal Reimaging Completion Percentage\n74%\n66%\n(1) Systemwide sales growth and same-restaurant sales growth are calculated on a constant currency basis and include sales by both Company-operated and franchise restaurants.\n(2) Excludes Venezuela and Argentina.\n(3) Systemwide sales include sales at both Company-operated and franchise restaurants.\n \nFinancial Highlights\nFi...