Industry News | July 25, 2002

Wendy's International Reports Strong Second Quarter Results

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DUBLIN, Ohio—July 25, 2002—Wendy's International, Inc. announced today strong systemwide and same-store sales and earnings results for the second quarter of 2002, which ended on June 30, and that it will pay its 98th consecutive quarterly dividend to shareholders. The company also raised its 2002 EPS growth goal to a range of $1.90 to $1.95, a 15 percent to 18 percent increase over $1.65 in 2001, due to strong business trends.

"We delivered strong results at Wendy's and Tim Hortons in the second quarter, which followed an excellent first three months of the year. Our systemwide sales and revenues for the second quarter grew more than 12 percent due to strong same-store sales at company and franchised restaurants, as well as new restaurant development. We continued to focus on operations and customer service initiatives at the pick-up window and inside our restaurants," said, Wendy's chairman and chief executive officer Jack Schuessler