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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.

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