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* At Wendy's® company operated restaurants in the United States, same- store sales grew by 2.1% in May, on top of a 2.9% increase in the same period a year ago. Wendy's same-store sales are up 2.7% through the first two months of the second quarter.
* At Tim Hortons® restaurants in Canada, same-store sales in May were up 7.3%, on top of a 9.5% increase in the same period a year ago. Tim Hortons same-store sales are up 7.9% through the first two months of the second quarter.
Wendy's positive sales performance was attributable to its continuing focus on quality products, superior restaurant operations and Service Excellence®. Wendy's continues to be recognized by consumers as the quality leader within the quick-service restaurant industry. The chain promoted its Cheddar Lovers'® Bacon Cheeseburger during May and will focus on its Super Value Menu(TM) and Late Night programs during the summer.
Tim Hortons promoted its popular iced cappuccino during May and held its annual "Camp Day'' on May 16, when all coffee sales from across the chain were donated to the Tim Horton Children's Foundation. The foundation sends thousands of economically disadvantaged children to its camps every year.
The company continues to expect to produce 12-15% diluted earnings per share growth in 2001, which is consistent with previous guidance from management.
The company plans to publish its second quarter results on Wednesday, August 1, 2001, and host its quarterly conference call and internet web cast that day at 4:00 p.m. (Eastern time).