Plus   Neg

Wendy's Co. Maintains FY19, FY20 Outlook - Quick Facts

While reporting financial results for the first quarter, The Wendy's Co. (WEN) on Wednesday continues to expect fiscal 2019 adjusted earnings per share growth of about 3.5 to 7.0 percent and global systemwide sales growth of about 3.0 to 4.0 percent.

Looking ahead to fiscal 2020, the company said it on track to achieve global systemwide sales of about $11.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenue growth of 4.9 percent to $1.67 billion for fiscal 2019 and sales of $1.74 billion for fiscal 2020. Analysts' estimates typically exclude special items.

The company also declared its regular quarterly cash dividend of 10 cents per share, payable on June 17, 2019, to shareholders of record as of June 3, 2019.

Further, the company announced an evolution of its leadership structure to further accelerate growth and align with its long-term growth plans. To continue to drive further accountability and efficiencies across the organization, it is creating two new positions, a President, U.S. and Chief Commercial Officer and a President, International and Chief Development Officer.

Kurt Kane will be promoted to President, U.S. and Chief Commercial Officer. Kane, who joined Wendy's in 2015, will also continue to lead our Digital Experience organization.

Abigail Pringle will be promoted to President, International and Chief Development Officer. Pringle, who joined Wendy's in 2002, will also continue to lead our Global Development organization.

As a result of these leadership changes, Bob Wright, Executive Vice President, Chief Operations Officer will depart the organization after transitioning through the end of May.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Canada's new regulations that provide extra protection for airline passengers will kick in Monday, July 15. The new rules from the Canada Transportation Agency, which has received severe backlash from industry and consumer advocates, requires airlines to compensate passengers up to $2,400 if they... California-based Fieldsource Food Systems Inc. has recalled about 13,000 pounds of diced beef and chicken products due to misbranding and undeclared allergens. The company says the product contain wheat, a known allergen, but is not declared on the product label. The uncooked, marinated, diced beef... The U.S. may approve certain companies to re-start new sales to Chinese telecom equipment giant Huawei in as soon as two weeks, Reuters reported Sunday, citing a senior U.S. official. According to the report, licenses will be issued to the U.S. companies on a case-by-case basis, starting in the next two to four week. Huawei is the world's largest telecom equipment maker.
Follow RTT