Wendy’s International’s third-quarter net income jumped 74%...
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Wendy’s International’s third-quarter net income jumped 74% from last year to $8.7 million. Revenue was flat at $273.7 million. The Dublin, Ohio, fast-food firm said the results were due to lower food costs as a percentage of sales, which boosted operating margins 18% over last year, and the introduction of the SuperBar buffet, which averaged more than 20% of restaurant sales. The company noted that sales slowed in late August and September as families purchased back-to-school items. Additionally, there was intensive discounting of food items among major competitors, which likely will continue through year-end.
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