Business
The Wendy's Company Reports Fourth Quarter And Full Year 2020 Results
DUBLIN, Ohio, March 3, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended January 3,
About this update from Wendy's Company (the)
[{"type":"text","content":"DUBLIN, Ohio, March 3, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported results for the fourth quarter and fiscal year ended January 3, 2021.\n\n \n \n \n \n \n \n\n \n\"I could not be more proud of our results and the work that was done by the Wendy's® System across the globe in 2020 with all the challenges we faced and overcame during the year. I am confident that we have emerged as a stronger, more unified brand that is poised to deliver outsized growth\" President and Chief Executive Officer Todd Penegor said. \"We accomplished a lot in 2020, including securing our position as the #2 QSR hamburger restaurant chain* in the U.S., achieving our two highest quarterly Global same restaurant sales results in over 15 years, launching our highly successful breakfast daypart, more than doubling our digital sales, enhancing our restaurant economic model, and continuing to enhance access to our brand with net new restaurant development. As we turn the page to 2021, we remain confident in our playbook of investing smartly to drive accelerated growth behind our three major long-term growth pillars: significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint, both Internationally and in the U.S.\"\nFourth Quarter and Full Year 2020 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\nFourth Quarter\nFull Year\n2020\n2019\n2020\n2019\nSystemwide Sales Growth(1)\nU.S.\n14.2%\n5.9%\n4.8%\n4.2%\nInternational(2)\n5.5%\n6.3%\n(5.5)%\n6.7%\nGlobal \n13.2%\n5.9%\n3.7%\n4.4%\nSame-Restaurant Sales Growth(1)\nU.S.\n5.5%\n4.5%\n2.0%\n2.9%\nInternational(2)\n(2.3)%\n2.7%\n(6.0)%\n3.2%\nGlobal\n4.7%\n4.3%\n1.2%\n2.9%\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$2,795\n$2,447\n$10,231\n$9,763\nInternational(2)\n$323\n$304\n$1,107\n$1,182\nGlobal\n$3,118\n$2,751\n$11,339\n$10,944\nRestaurant Openings\nU.S. - Total / Net\n25 / 7\n39 / 27\n98 / 29\n107 / 42\nInternational - Total / Net\n26 / 7\n32 / 18\n49 / 11\n75 / 35\nGlobal - Total / Net\n51 / 14\n71 / 45\n147 / 40\n182 / 77\nGlobal Reimaging Completion Percentage\n64%\n58%\n(1) Systemwide sales growth and same-restaurant sales growth are...