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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 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.
Wendy's has launched the Hot Honey Chicken Sandwich and Hot Honey Chicken Biscuit, combining honey's sweetness with a habanero kick. As the first new breakfast item since 2020, the Biscuit features all-white meat chicken and hot honey on a buttermilk biscuit. The Sandwich includes spicy chicken, Pepper Jack cheese, bacon, pickles, and hot honey on a toasted bun. Priced at $5.99 for the sandwich and $3.19 for the biscuit, these additions aim to enhance the Made to Crave menu, showcasing Wendy's commitment to flavor innovation.
The Wendy's Company (Nasdaq: WEN) announced its evaluation of a potential debt raise transaction within its securitized debt facility, expected to conclude by the end of Q1 2022. Proceeds, if the transaction occurs, will be used for brand growth initiatives and shareholder returns. The announcement has led to revised reporting dates for its Q4 and full-year 2021 results, set for March 1, 2022. Additionally, a virtual investor day is scheduled for June 9, 2022, to discuss the company's long-term strategy.
The Wendy's Company has achieved a significant milestone by opening its 1,000th international restaurant in Croydon, UK, on November 16, 2021. This follows the establishment of its 400th location in Canada and 300th in the APMEA region earlier this year. Wendy's aims to expand its global presence, targeting 8,500 to 9,000 restaurants by 2025. President Todd Penegor expressed pride in this growth, supported by franchise partners and teams worldwide.
The Wendy's Company (Nasdaq: WEN) reported its third quarter results for 2021, highlighting a 4% increase in total revenues to $470.3 million and a 13% year-to-date jump in revenues. Global same-restaurant sales grew 3.3%, with U.S. sales up 2.1%. The company announced a quarterly dividend of $0.12 per share and increased its share repurchase authorization by $80 million. Despite challenges, including rising operational costs and a decline in company-operated restaurant margins, net income rose 3.6% to $41.2 million.
The Wendy's Company (Nasdaq: WEN) has expanded its Board of Directors from 11 to 12 members, with the appointment of Richard (Rick) H. Gomez, effective November 4, 2021. Gomez, formerly the Executive Vice President and Chief Food and Beverage Officer for Target, brings over 20 years of experience in managing consumer food brands. Chairman Nelson Peltz highlighted Gomez's expertise in marketing and corporate social responsibility, emphasizing its importance for Wendy's future initiatives. Gomez expressed enthusiasm about contributing to Wendy's growth and partnerships.
Wendy's honors Veterans Day by offering a FREE breakfast combo to veterans and active military members with valid military ID or Veterans Advantage card. This promotion takes place on November 11, 2021, from 6:30 AM to 10:30 AM at participating locations. The company recognizes its founder, Dave Thomas, a veteran, as part of its commitment to support the military community. Service members can also access ongoing perks through the Veterans Advantage program.
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