Industry News | March 9, 2001

Wendy's, Hortons Report February Sales

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Wendy's International, Inc. (NYSE: WEN) announced today its preliminary sales results for February (Period 2), which ended on March 4, 2001.

* At Wendy's® company operated restaurants in the United States, same-store sales grew by 0.9% in February, on top of a 4.1% increase in the same quarter a year ago and a 12.4% increase during the February period in 1999.

* At Tim Hortons® restaurants in Canada, same-store sales in February were up 9.4%, on top of a 9.1% increase in the same period a year ago. At Tim Hortons restaurants in the U.S., same-store sales were up 9.6% in February on top of a 9.3% increase in the same period a year ago.

"Wendy's produced positive sales in February despite the challenge of winter weather conditions that are more severe than a year ago, especially in markets where we have a high concentration of our company stores. We also faced discounting programs by our competitors," said Jack Schuessler, chief executive officer and president.

"Looking ahead, we are optimistic about sales growth at Wendy's. We are testing a new salad program in selected U.S. markets during March. We also have national advertising campaigns coming up that are focused on a terrific promotional product, our Super Value Menu(TM) and our growing late night program.

"Tim Hortons continues to produce outstanding sales performance, which is very important considering the rapid growth of the chain. Tim Hortons produces about one quarter of our revenues and about one-third of our pretax income,'' Schuessler said. "Tim Hortons just initiated its very popular Roll Up the Rim to Win® promotional campaign in Canada and our U.S. markets. The program runs through mid April.''