Business
The Wendy's Company Reports Fourth Quarter And Full Year 2019 Results
DUBLIN, Ohio, Feb. 26, 2020 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended December 29,
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[{"type":"text","content":"DUBLIN, Ohio, Feb. 26, 2020 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended December 29, 2019.\n\n \n \n\n \n\"We delivered a very strong year of sales growth and have laid the foundation in 2019 to set the Wendy's® brand up for future success,\" President and Chief Executive Officer Todd Penegor said. \"We have momentum in our business as evidenced by our accelerating sales growth in the second half of the year, which sets us up well going into 2020. Our focus remains on efficient, accelerated growth behind our three major growth pillars: entering the breakfast daypart, growing our digital business, and expanding our International footprint. We are well positioned to drive growth in 2020 and I'm more confident than ever that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand.\"\nFourth Quarter and Full Year 2019 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.\n \nOperational Highlights(1)\nFourth Quarter\nFull Year\n2019\n2018\n2019\n2018\n(Unaudited)\n(Unaudited)\nSystemwide Sales Growth(2)\nNorth America\n5.7%\n1.4%\n4.2%\n2.0%\nInternational(3)\n9.8%\n12.1%\n9.9%\n13.0%\nGlobal\n5.9%\n1.9%\n4.4%\n2.5%\nNorth America Same-Restaurant Sales Growth(2)\n4.3%\n0.2%\n2.8%\n0.9%\nRestaurant Openings\nNorth America - Total / Net\n46 / 33\n44 / 37\n122 / 56\n108 / 48\nInternational - Total / Net\n25 / 12\n9 / 5\n60 / 21\n51 / 29\nGlobal - Total / Net\n71 / 45\n53 / 42\n182 / 77\n159 / 77\nSystemwide Sales (In US$ Millions)(4)\nNorth America\n$2,605\n$2,464\n$10,387\n$9,994\nInternational(3)\n$146\n$133\n$557\n$519\nGlobal\n$2,751\n$2,597\n$10,944\n$10,513\nGlobal Reimaging Completion Percentage (Life-to-date)\n58%\n50%\n(1) As of Q4 2019, the Company has revised its segment disclosures and will now be reporting on three segments which are Wendy's U.S., Wendy's International and Global Real Estate & Development. As a result, Q4 2019 will be the last time the Company reports the operational highlights described above under its old reporting structure. Please see page 15 of this release for Q4 and full year operational highlights for the Company's new seg...