Business
THE WENDY'S COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS
DUBLIN, Ohio, March 1, 2023 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported audited results for the fourth quarter and full year ended
About this update from Wendy's Company (the)
[{"type":"text","content":"DUBLIN, Ohio, March 1, 2023 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported audited results for the fourth quarter and full year ended January 1, 2023. The Company previously issued preliminary unaudited results for the fourth quarter and full year ended January 1, 2023 on January 13, 2023.\n\n \n \n \n \n \n \n\n \n\"Our strong 2022 results and the progress we made against our strategic growth pillars have laid the foundation for continued growth for years to come,\" President and Chief Executive Officer Todd Penegor said. \"In the fourth quarter, our breakfast sales accelerated while our global digital business reached record highs, and over the course of the year we opened over 275 restaurants across the globe despite a difficult operating environment. We anticipate our significant business momentum and the sound execution of our key priorities will deliver a new gear of efficient, accelerated growth for the next several years. I am confident that Wendy's® best days are yet to come, and we will continue to make meaningful progress towards achieving our vision of becoming the world's most thriving and beloved restaurant brand.\"\nFourth Quarter and Full Year 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.\n \nOperational Highlights\nFourth Quarter\nFull Year\n2022\n2021\n2022\n2021\nSystemwide Sales Growth(1)\nU.S.\n7.2 %\n(0.7) %\n5.3 %\n8.6 %\nInternational(2)\n16.8 %\n13.5 %\n19.2 %\n20.7 %\nGlobal \n8.4 %\n0.8 %\n6.8 %\n9.8 %\nSame-Restaurant Sales Growth(1)\nU.S.\n5.9 %\n6.1 %\n3.9 %\n9.2 %\nInternational(2)\n9.9 %\n18.1 %\n12.4 %\n17.6 %\nGlobal\n6.4 %\n7.3 %\n4.9 %\n10.0 %\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$2,976\n$2,775\n$11,694\n$11,111\nInternational(2)\n$414\n$367\n$1,606\n$1,397\nGlobal\n$3,390\n$3,141\n$13,301\n$12,507\nRestaurant Openings\nU.S. - Total / Net\n38 / (3)\n54 / 37\n139 / 56\n123 / 57\nInternational - Total / Net\n40 / 18\n27 / 21\n137 / 90\n87 / 64\nGlobal - Total / Net\n78 / 15\n81 / 58\n276 / 146\n210 / 121\nGlobal Reimaging Completion Percentage\n79 %\n72 %\n(1) Systemwide sales growth and same-restaurant sales growth are calculated on a constant currency basis and include sales by both Compa...