Business
THE WENDY'S COMPANY REPORTS THIRD QUARTER 2022 RESULTS
DUBLIN, Ohio, Nov. 9, 2022 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the third quarter ended October 2, 2022. "I
About this update from Wendy's Company (the)
[{"type":"text","content":"DUBLIN, Ohio, Nov. 9, 2022 /PRNewswire/ -- The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the third quarter ended October 2, 2022.\n\n \n \n \n \n \n \n\n \n\"I am proud of the Wendy's® System for achieving significant one-year global same-restaurant sales acceleration, which allowed us to deliver a fourth consecutive quarter of double digit global same-restaurant sales on a two-year basis,\" President and Chief Executive Officer Todd Penegor said. \"This extends our track record of consistent sales growth while highlighting the strength of our strategic pillars. We expanded our global footprint, held global digital sales mix at approximately 10%, and accelerated our US breakfast daypart over the course of the quarter following our first major menu innovation since launching. Our focus on executing against our priorities, our alignment with the best franchisees in the business, and the continued dedication of our employees give me the confidence that we will achieve our vision of becoming the world's most thriving and beloved restaurant brand.\"\nThird Quarter 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\nThird Quarter\nYear-to-Date\n2022\n2021\n2022\n2021\nSystemwide Sales Growth(1)\nU.S.\n7.7 %\n3.7 %\n4.6 %\n12.1 %\nInternational(2)\n18.3 %\n20.2 %\n20.1 %\n23.6 %\nGlobal \n8.9 %\n5.3 %\n6.3 %\n13.2 %\nSame-Restaurant Sales Growth(1)\nU.S.\n6.4 %\n2.1 %\n3.3 %\n10.2 %\nInternational(2)\n10.8 %\n14.7 %\n13.3 %\n17.4 %\nGlobal\n6.9 %\n3.3 %\n4.4 %\n10.9 %\nSystemwide Sales (In US$ Millions)(3)\nU.S.\n$3,006\n$2,791\n$8,719\n$8,336\nInternational(2)\n$413\n$362\n$1,192\n$1,020\nGlobal\n$3,419\n$3,154\n$9,911\n$9,356\nRestaurant Openings\nU.S. - Total / Net\n27 / 14\n27 / 6\n101 / 59\n69 / 20\nInternational - Total / Net\n31 / 26\n21 / 19\n97 / 72\n60 / 43\nGlobal - Total / Net\n58 / 40\n48 / 25\n198 / 131\n129 / 63\nGlobal Reimaging Completion Percentage\n77 %\n70 %\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 ...