Industry News | October 23, 2003
Wendy's Reports Q3 Results
In the same statement, Wendy’s chairman and CEO Jack Schuessler said: "This was our best quarter of the year. Revenues continued to grow, same-store sales are improving and they were positive at Wendy's in August and September. New unit restaurant development is on track at all brands and we are pleased to produce good earnings growth.
"At Wendy's, our new Homestyle Chicken Strips are generating customer traffic as consumers respond to another high quality product on our everyday menu.
"We are very proud of our operators as Wendy's was cited by QSR magazine for the 'fastest drive-through window speed' for the fifth consecutive year. Our average time was 117 seconds, which is 10 seconds faster than a year ago and 30 seconds faster than any other chain mentioned in the QSR study. Continuous improvement by our operators is important because more than 65 percent of our sales occur at the pick-up window," Schuessler added.
"At Tim Hortons, consumers continued to respond positively to our excellent service, 'Always Fresh' coffee and our Maple Pecan danish promotion during September. Tim Hortons recently introduced a new bacon, lettuce and tomato baguette sandwich and will be bringing back chicken stew this fall.
"At Baja Fresh, same-store sales were negative during the quarter but improved compared to the second quarter. We are encouraged with sales trends in some key markets and Baja is attracting customers with its new 'Lighten Up' menu, which has several meals with less than 10 grams of fat. Baja Fresh continues to expand with new restaurants and strong franchise operators, and is on track to meet its development goals."
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