Business
The Wendy's Company Reports Second Quarter 2020 Results
DUBLIN, Ohio, Aug. 5, 2020 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the second quarter ended June 28, 2020 and
About this update from Wendy's Company (the)
[{"type":"text","content":"DUBLIN, Ohio, Aug. 5, 2020 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the second quarter ended June 28, 2020 and provided an update on the impact of the COVID-19 pandemic on the Company's business.\n\n \n \n \n \n \n \n\n \n\"I continue to be extremely proud of, and humbled by, the tireless efforts and dedication from our employees, franchisees and supplier partners across the globe as we successfully manage through COVID-19,\" President and Chief Executive Officer Todd Penegor said. \"Our business and restaurant economic model continue to show incredible resilience as we build momentum with U.S. same-restaurant sales accelerating to high-single digit growth in July, driven by the continued strength of our breakfast and digital businesses. We remain focused on our goal of delivering efficient, accelerated growth behind our three major long-term growth pillars: building our breakfast daypart, growing our digital business, and expanding our International footprint. We have positioned ourselves to manage through future challenges and ultimately emerge as a stronger Wendy's® brand. I'm more confident than ever that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand.\"\nSecond Quarter 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\nSecond Quarter\nYear-to-Date\n2020\n2019\n2020\n2019\nSystemwide Sales Growth(1)\nU.S.\n(4.0)%\n2.5%\n(1.6)%\n2.5%\nInternational(2)\n(24.5)%\n10.4%\n(12.4)%\n10.3%\nGlobal \n(6.2)%\n3.3%\n(2.7)%\n3.3%\nSame-Restaurant Sales Growth(1)\nU.S.\n(4.4)%\n1.3%\n(2.3)%\n1.3%\nInternational(2)\n(18.4)%\n3.9%\n(10.1)%\n3.3%\nGlobal \n(5.8)%\n1.6%\n(3.1)%\n1.5%\nRestaurant Openings\nU.S. - Total / Net\n19 / 1\n19 / 2\n46 / 10\n44 / 3\nInternational - Total / Net\n3 / 0\n9 / 7\n17 / 8\n27 / 5\nGlobal - Total / Net\n22 / 1\n28 / 9\n63 / 18\n71 / 8\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$2,403\n$2,503\n$4,744\n$4,821\nInternational(2)\n$220\n$301\n$493\n$574\nGlobal\n$2,624\n$2,804\n$5,237\n$5,395\nGlobal Reimaging Completion Percentage\n61%\n53%\n(1) Systemwide sales growth and same-restaurant sales growth are calculated on ...