International, Inc
. (NYSE: WEN) announced today
its preliminary sales results for the fourth quarter and
December (Period 12), which ended on December 31, 2000.
The company also announced today that it exceeded its goals
for new restaurant development for 2000 and reiterated that
it expects to report Base EPS growth for 2000 in a range
of 17% to 19%.

At Wendy’s(R) company operated restaurants in the United
States, same- store sales grew by 3.2% in the fourth quarter,
on top of a very strong 6.4% increase in the same quarter
a year ago. Same-store sales were up 2.6% in December. At
Tim Hortons(R) restaurants in Canada, same-store sales were
up 8% to 9% in the fourth quarter, on top of a 6.6% increase
in the same period a year ago. Same-store sales were up
7% to 8% in December.

At Tim Hortons in the U.S., same-store sales were up about
13% for the fourth quarter and 11% to 12% in December.

“We delivered a good overall sales performance in the quarter,”
said Jack Schuessler, chief executive officer and president.
“Wendy’s sales were solid on top of an outstanding fourth
quarter a year ago. Tim Hortons continues to deliver consistently
strong results. Our performance was encouraging considering
the severe winter weather conditions throughout much of
North America during December.”

The company and its franchisees opened 545 new restaurants
systemwide in 2000 (on a preliminary basis), the most in
the history of Wendy’s International, Inc. The development
results, consisting of 360 new Wendy’s and 185 new Tim Hortons,
exceeded the company’s previously stated goal of opening
500 to 520 new units systemwide for the year.

The company continues to expect to report earnings per
share growth in the 17% to 19% range in 2000, excluding
asset gains and a non- recurring charge for closing restaurants
in Argentina. The company’s EPS were $1.26 in 1999, excluding
asset gains. The company generated $0.06 per share in asset
gains during 1999 and $0.03 per share in asset gains through
the first three quarters of 2000.

Wendy’s 2001 goal and long-term goal for earnings per share
growth continues to be in the 12% to 15% range. The company
plans to publish its fourth quarter and year 2000 financial
results on February 9, 2001. Management plans to host a
meeting in New York with investors on February 12, 2001.
The meeting will be accessible via a conference call and
will be web cast on the Internet.

To access the company’s web site or to listen to previous
web casts, go to www.wendys.com
and select “investor information and news releases.”

News, Wendy's