Wendy’s (NYSE:WEN) is trading slightly lower today after the company said that charges from selling Arby’s offset a jump in revenue and led it to reported a 30 percent drop in fourth quarter profits. The company said that more customers visited its restaurants and spent more per visit which helped boost revenue 5.6 percent higher.
Wendy’s did not report its full results on Monday but did say that it will on March 1st. No reasons were given for the decision.
The company did however report income from continuing operation of $4.3 million, down from last years same quarter profit of $6.1 million. Revenue during the period rose to $615 million from $582.6 million and topped analyst expectations of $613 million. Revenue at restaurants open at least one year rose by 4.4 percent in North America. Profit margins increase from 14 percent to 15 percent as revenues increase.
Wendy’s has gone through a restructuring phase over the last couple of years; introducing new foods and changing its menu in order to attract new customers. The company stated that it is looking to attract customers who want higher end fast foods and that it will provide products to fill that demand going forward.
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