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The Wendy’s Company (Nasdaq: WEN) stands as the world's third largest quick-service hamburger chain, boasting a system of over 7,157 franchise and company-owned restaurants across 30 countries as of 2023. With annual systemwide sales reaching $12.3 billion, Wendy’s not only leads in innovation but also in customer loyalty, consistently outperforming competitors like Burger King.
Founded in 1969 by Dave Thomas in Columbus, Ohio, Wendy’s is renowned for its made-to-order square hamburgers, using fresh, never frozen beef*, freshly-prepared salads, and signature items like chili, baked potatoes, and the Frosty® dessert. The company has a strong focus on quality, encapsulated in its motto, “Quality is our Recipe®.”
Wendy’s revenue streams are diversified, coming from the sale of hamburgers, chicken sandwiches, salads, and fries across its company-owned footprint, and through franchise royalty and marketing fund payments. Franchisees, who account for 94% of the total stores, also contribute through advisory fees and franchise flipping.
Recent milestones include the opening of a new restaurant inside the University of Kansas Memorial Union, underscoring Wendy’s commitment to community and strategic partnerships. Financially, Wendy’s demonstrated strong performance in 2023, marking its 13th consecutive year of global same-restaurant sales growth. The company accelerated digital sales and expanded its U.S. Company-operated restaurant margin to pre-COVID levels, despite inflationary challenges.
Looking ahead, Wendy’s aims to further accelerate global growth, enhance restaurant margins significantly, and drive long-term shareholder value. Recent initiatives include investments to boost global expansion and digital sales, as well as new product launches like the Cinnabon® Pull-Apart and Saucy Nuggs, which are set to attract more customers.
Wendy’s is also deeply committed to social responsibility, prominently supporting the Dave Thomas Foundation for Adoption® and its Wendy’s Wonderful Kids® program. These efforts aim to find a loving, forever home for every child waiting to be adopted from the North American foster care system.
For more details on Wendy’s and its offerings, visit www.wendys.com.
*Fresh beef available in the contiguous U.S., Alaska, and Canada.
The Wendy's Company (Nasdaq: WEN) reported its first-quarter 2022 results, highlighting a 6.2% increase in total revenues to $488.6 million. Despite robust global sales growth, the company saw a decline in operating profit and net income, primarily due to rising labor costs and increased general and administrative expenses. Wendy's opened over 90 new restaurants and is on track for 5-6% net unit growth this year. The company also declared a quarterly dividend of 12.5 cents per share and increased its share repurchase authorization to $250 million.
Wendy's has launched its breakfast menu nationwide in Canada, offering a free hot cup of coffee to customers from May 2 to May 29, 2022. The new breakfast menu includes items made with fresh, high-quality ingredients, such as the Breakfast Baconator and Frosty-ccino, focusing on Canadian taste. This initiative aims to enhance Wendy's presence in the breakfast segment, utilizing their mobile app for convenience and delivery options through services like SkipTheDishes and Uber Eats. The company emphasizes its commitment to quality ingredients and customer satisfaction.
The Wendy's Company released its 2021 Corporate Responsibility report on April 27, 2022, highlighting progress in its Food, People, and Footprint initiatives. The report includes formalized Diversity, Equity, and Inclusion (DEI) goals, advancements in climate strategies, and sustainable packaging efforts. Notably, executive compensation is now linked to ESG performance. Key highlights include responsible sourcing commitments, a focus on food safety, and increased recyclability of packaging. The report underscores Wendy's dedication to corporate responsibility and stakeholder engagement.
The Wendy's Company has announced charitable donations exceeding $185,000 to various organizations in the U.S. and Canada. These contributions align with Wendy's core charitable categories, including foster care adoption and hunger support. Key donations include $125,000 to the Thurgood Marshall College Fund and $60,000 towards local organizations via its Community Giving Program. This initiative, which began in 2020, has allocated nearly $250,000 to over 60 organizations, underscoring Wendy's commitment to community support.
The Wendy's Company (Nasdaq: WEN) will announce its first quarter 2022 results on May 11 before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET, accessible via telephone and a webcast. Presentation materials will also be available online. Wendy's, known for its square hamburgers and fresh ingredients, operates approximately 7,000 restaurants globally and supports community initiatives such as the Dave Thomas Foundation for Adoption.
Wendy's has enhanced its popular $5 Biggie™ Bag by offering customers a choice of sandwiches, including a Jr. Bacon Cheeseburger, Double Stack™, or Crispy Chicken BLT. The meal includes a 4-piece chicken nuggets, fries, and a soft drink, all for $5. Available now at participating locations, Wendy's aims to provide quality meals at value prices. Additionally, from April 12 to April 24, customers can earn 3x Bonus Rewards points on Biggie Bag purchases. This initiative highlights Wendy's commitment to customer satisfaction and affordability.
The Wendy's Company (Nasdaq: WEN) reported mixed results for Q4 and full-year 2021, with global same-restaurant sales growing 7.3% and net income increasing 70.1% to $200.4 million. However, total revenues decreased slightly in Q4 due to the impact of a 53rd operating week in 2020. The company opened 210 new restaurants in 2021 and announced a $100 million share repurchase authorization. Looking ahead, Wendy's plans to focus on growing its breakfast offerings, digital business, and global expansion.
The Wendy's Company has launched a new franchise recruitment initiative called Own Your Opportunity, aimed at providing pathways for diverse entrepreneurs to invest in the Wendy's System. This initiative seeks to enhance restaurant ownership among underrepresented groups, including women and people of color. Key components include revised liquidity and net worth requirements for franchise applicants and partnerships with financial institutions to support new franchisees. Wendy's also introduced a Build-to-Suit fund to facilitate restaurant development in underserved areas.
The Wendy's Company (Nasdaq: WEN) has authorized a 4% increase in its quarterly cash dividend, raising it from 12 cents to 12.5 cents per share. This adjustment will take effect with the next payment scheduled for March 15, 2022, to shareholders of record as of March 7, 2022. As of February 18, 2022, Wendy's had approximately 215.9 million common shares outstanding. The company's CEO, Todd Penegor, emphasized strong liquidity and business momentum as reasons for the dividend increase while maintaining focus on growth.
Wendy's® has announced the launch of breakfast in all Canadian locations starting this spring. This initiative aims to provide high-quality breakfast options, including fresh Canadian eggs and Applewood smoked bacon. The company expects to hire around 1,600 new crew members to support this expansion. Wendy's Canada has seen significant growth, celebrating its 400th restaurant opening and gaining market share with innovative menu offerings. The breakfast menu, featuring items like the Breakfast Baconator®, will be revealed soon.
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