Plus   Neg

Wendy's Withdraws Guidance - Quick Facts

The Wendy's Company (WEN) said the company is withdrawing its outlook for fiscal 2020, and its 2021-2024 long-term outlook. The company has increased its cash position by drawing down $120 million under its revolving financing facility of Variable Funding Senior Secured Notes. The company currently has over $340 million in cash on hand. The company has suspended all share repurchase activity.

The Wendy's Company reported that its global same-restaurant sales for the quarter-to-date through March 22, 2020 were up 2.8%. Same-restaurant sales were on plan for the quarter before COVID-19 impact, the company noted.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
JetBlue Airways said it will continue to block middle seats in rows where passengers are not traveling together through the July 4 holiday. JetBue will block middle seats on its Airbus aircraft, while it will block aisle seats on its smaller Embraer 190 aircraft. Customers traveling together will be allowed to sit in the middle and aisle seats. The U.S. Food and Drug Administration or FDA announced on its website that New Hoque and Sons, Inc. is recalling Radhuni Curry Powder distributed in New York City, New York due to potential Salmonella contamination. The recall was made after it was found that the finished products contained several strains of Salmonella, the company said. General Motors is reopening its plants in Mexico after it received approval from the Mexican government to restart operations in the country, according to reports. The automaker had suspended its operations in Mexico in the third week of March due to the coronavirus pandemic. GM's Mexican manufacturing facilities are important as they supply critical parts for its plants in the U.S.
Follow RTT