Business
The Wendy's Company Reports Third Quarter 2021 Results
DUBLIN, Ohio, Nov. 10, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the third quarter ended October 3, 2021.
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[{"type":"text","content":"DUBLIN, Ohio, Nov. 10, 2021 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the third quarter ended October 3, 2021.\n\n \n \n \n \n \n \n\n \n\"We are extremely proud of the progress we are making against our three strategic growth pillars,\" President and Chief Executive Officer Todd Penegor said. \"We continued to grow our breakfast business, digital sales accelerated, and we meaningfully expanded our global footprint in the third quarter. Global Same-Restaurant sales grew in the high-single digits on a 2-year basis, reinforcing the strength of our brand in a challenging environment. Our focus on executing against our key priorities and our continued partnership with the best franchisees in the business give me confidence that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand.\"\nThird Quarter 2021 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\nThird Quarter\nYear-to-Date\n2021\n2020\n2021\n2020\nSystemwide Sales Growth(1)\nU.S.\n3.7%\n7.9%\n12.1%\n1.6%\nInternational(2)\n20.2%\n(3.5)%\n23.6%\n(9.3)%\nGlobal \n5.3%\n6.7%\n13.2%\n0.5%\nSame-Restaurant Sales Growth(1)\nU.S.\n2.1%\n7.0%\n10.2%\n0.9%\nInternational(2)\n14.7%\n(2.1)%\n17.4%\n(7.3)%\nGlobal\n3.3%\n6.1%\n10.9%\n—%\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$2,791\n$2,692\n$8,336\n$7,436\nInternational(2)\n$362\n$291\n$1,020\n$784\nGlobal\n$3,154\n$2,983\n$9,356\n$8,220\nRestaurant Openings\nU.S. - Total / Net\n27 / 6\n27 / 12\n69 / 20\n73 / 22\nInternational - Total / Net\n21 / 19\n6 / (4)\n60 / 43\n23 / 4\nGlobal - Total / Net\n48 / 25\n33 / 8\n129 / 63\n96 / 26\nGlobal Reimaging Completion Percentage\n70%\n62%\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\nThird Quarter\nYear-to-Date\n2021\n2020\nB / (W)\n2021\n2020\nB / (W)\n(In Millions Except Per Share Amounts)\n(Unaudited)\n(Unaudited)\nTotal Revenues\...