Boston, MA 11/08/2013 (wallstreetpr) – Recently, the management of The Wendy’s Co (NASDAQ:WEN) announced the results of their third quarter. The report revealed that during the entire quarter the fast food chain made a considerable progress on all the dimensions of brand transformation and this is still in progress.
The result reported a strong third quarter for the company with great growth in earnings as well as sales. According to the management of the company, the image activation reimage program which started in the year 2011, has accelerated a lot in the past 2 years and would also accelerate again in the year 2014.
The company has made a progress with the help of the system optimization initiative and also with the help of which new franchises are being opened by the company restaurants.
Due to the strong year to date earnings and momentum received with the help of brand transformation, the company is raising their adjusted EBITDA to approximately $365 million and the adjusted EPS is being planned to be approximately $0.25.
Talking about the earnings and EBITDA of the third quarter, the company managed to deliver adjusted EBITDA of $98.7 million which was an increase of 17%. Also the adjusted EPS increased by $0.08 from $0.02 which was previous year.
But talking about the recent trading session, the share price has fallen down rapidly due to the poor sales and missing sales estimates. But the company managed to raise their full year earnings guidance. This happened due to the poor sales of Chicken Flatbread Sandwich of the company. The sales were 3.2% below the analyst’s expectations which were 3.9%.
Moreover, The Wendy’s Co is planning to make bread on bread. The Dublin based restaurant chain’s admired Pretzel Bacon Cheeseburger has reached heights and now the chain is planning to slab sandwiches on premium buns.
