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
The U.S. Department of Justice has reached a settlement agreement with a Texas-based Taco Bell franchise owner for immigration-related discrimination against certain employees. The settlement resolves the DOJ's investigation into whether MUY Brands LLC, and a related management company, MUY Consulting Inc., violated the Immigration and Nationality Act. Starbucks is gearing up for the upcoming holiday season by introducing its 2019 holiday flavors in U.S. grocery stores. The launch of the coffee giant's holiday line-up this year includes returning holiday favorites as well as a new item. Customers can now take home products that are making a comeback such as Starbucks Holiday Blend K-Cup and Ground Coffee, Peppermint Mocha Flavored Ground Coffee, Peekay International issued a recall of 7 ounce and 14 ounce packs containing Keshav Dry Apricot food treats as they contain undeclared allergens such as sulfites, according to a statement published by The U.S. Food and Drug Administration. Consumption of the product by those allergic or having severe sensitivity to sulfites could run the risk of serious or life-threatening allergic reactions.
Follow RTT