Same-store sales at Wendy's U.S. company restaurants were up 5.4% in March, on top of 8.9% a year ago. Tim Hortons same-store sales in Canada increased 9.5% in March, on top of 13.8% growth a year ago.
"Our sales performance at Wendy's and Tim Hortons continues to be outstanding," said Jack Schuessler, chief executive officer and president. "Our Wendy's business in North America is very strong as we continue to focus on programs to build customer traffic over the long term and execute profit-building strategies such as our Service Excellence program."
"Likewise, Tim Hortons in Canada continues to deliver excellent results with customer transaction growth due to effective marketing, day part expansion and excellent products," Schuessler said.
The Company continued to repurchase common shares during the first quarter and several directors and officers also purchased stock during the quarter.
The Company's Annual Meeting of Shareholders is scheduled for May 3, 2000, in Columbus, Ohio. Management will report 2000 First Quarter results that day and host a conference call and Internet web cast with investors (www.wendys.com ).
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