Wendy’s International, Inc. (NYSE: WEN)
announced today during a meeting with analysts, investors
and the media its major financial goals for the year 2001.
Highlights included:

• Revenue growth in the 8.0% to 10.0% range.

• Same-store sales growth at Wendy’s® U.S. company
restaurants in the 3.0% to 3.5% range, which is in line
with the chain’s 10-year average.

• Same-store sales growth at Tim Hortons® restaurants
in Canada in a range of 5.0% to 6.0%.

• Unit development of 515 to 555 new restaurants systemwide.

• Productivity enhancing initiatives at Wendy’s restaurants,
which are intended to offset rising costs for certain food
items and restaurant crew wages.

• General and administrative costs, as a percent of
revenues, lower than the 9.3% reported in 2000.

• A corporate tax rate of 37.0%, down from 37.5% in

• Continuing repurchase of common shares. The company
has purchased $491 million in common shares since 1998.

• Earnings per share growth in the 12-15% range.

• Ongoing improvement in return on invested capital,
return on equity and return on assets. Since launching its
strategic initiatives in 1998, the company has improved
returns significantly (the following chart excludes non-recurring

January 2001 sales results

The company also announced today its sales results for
January (Period 1
ended on February 4):
• Same-store sales increased 1.2% at Wendy’s U.S. company
units, on top
of a 1.5% increase a year ago and an 8.6% increase during
the same
period in 1999.

• Same-store sales at Tim Hortons in Canada increased
10.6%, on top of a
10.5% increase a year ago. Same-store sales at Tim Hortons
U.S. grew
8.4% in January.

Wendy’s sales were affected by difficult winter weather
conditions in key company operated markets. The January
2001 period included the New Year’s holiday, while the same
period a year ago did not include the holiday.


News, Wendy's