Industry News | April 2, 2001
Wendy's Reports Improving U.S. Sales Performance
* At Wendy's® company operated restaurants in the United States, same- store sales grew by about 2.6% in March, on top of a 5.4% increase in the same quarter a year ago. It was the best monthly sales performance of the year for Wendy's.
* At Tim Hortons® restaurants in Canada, same-store sales in March were up about 10%, on top of a 9.5% increase in the same period a year ago. At Tim Hortons restaurants in the U.S., same-store sales were up about 8% in March on top of a 12.8% increase in the same period a year ago.
"Wendy's sales trends are improving and Tim Hortons continues to deliver results that are better than expected,'' said Jack Schuessler, chief executive officer and president. "We are optimistic about continuing to produce sales growth due to our systemwide focus on restaurant operations and quality products. At Wendy's, we have an excellent promotional sandwich coming up with national advertising and we expect our late night sales to continue growing this summer.''
Company management is participating in the Banc of America Securities Consumer Conference on April 2 at the Palace Hotel, 455 Madison Ave., New York. The company's presentation is scheduled at 3:30 p.m. and will be web cast on the Internet at: http://www.veracast.com/bas_consumer2001/webcasts/id721041121.cfm .
Wendy's International, Inc. is one of the world's largest restaurant operating and franchising companies, with $7.7 billion in 2000 systemwide sales and two quality brands -- Wendy's and Tim Hortons. Wendy's Old Fashioned Hamburgers® was founded in 1969 by Dave Thomas and is the third largest quick-service hamburger chain in the world with nearly 5,800 restaurants in the United States, Canada and international markets. Tim Hortons was founded in 1964 by Tim Horton and Ron Joyce and is the largest coffee and fresh baked goods chain in Canada. There are nearly 2,000 Tim Hortons restaurants of which more than 1,800 are in Canada.
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