Manager, Joint-managers: BofA Merrill Lynch, Wells Fargo Securities, Jefferies
Co-managers: Barclays, Goldman Sachs, Piper Jaffray, William Blair, KeyBanc Capital Markets, RBC Capital Markets, Stephens, SunTrust Robinson Humphrey
BOJA Company Owned Restaurants (622 restaurants 41% company owned; expanding to 3,500 restaurants).
• Expanded our total revenues from $299.9 million in fiscal 2011 to $430.5 million in fiscal 2014, representing a CAGR of 12.8%;
• Increased Adjusted EBITDA from $45.4 million in fiscal 2011 to $68.9 million in fiscal 2014, representing a CAGR of 14.9%.
Iconic Brand with Loyal, Cult-Like Following. Since opening our first restaurant in North Carolina in 1977, we believe we have become an iconic brand with a cult-like following by consistently delivering differentiated, craveable food.
Diversified Daypart Mix. We have a diversified daypart mix that supports AUVs that are among the highest in the QSR and fast-casual segments:
• Our Famous Breakfast: While many of our competitors do not offer breakfast, in fiscal 2014, we generated 38% of our company restaurant revenues before 11:00 a.m., or an average of over $650,000 annually per company-operated restaurant. Our strong breakfast results make us a leader in the fastest growing daypart in the industry. Furthermore, we believe breakfast has broad customer appeal and is the most habitual daypart, which drives repeat business and customer loyalty.
• Our Craveable Menu for Lunch, Snack, Dinner and After Dinner: In fiscal 2014, we generated 62% of our company restaurant revenues from 11:00 a.m. to closing, which is typically 11:00 p.m. We believe Bojangles’ menu, focused on high-quality, craveable items, is distinct in the LSR industry and provides an attractive value proposition for lunch, snack, dinner and after dinner. Our Big Bo Box, family and tailgate meals cater to group occasions and drive sales during these dayparts. Additionally, our customers can...
Sentiment: Strong Buy
Porch, I am still on board with more WEN than I probably should have in my portfolio. I know that this image reactivation process is drilling a hole in the top line sales for the next 18 months or so, so I am looking further out for WEN to explode upward. I have NEVER sold one share of my WEN stock. Maybe I can be called a "decade trader". I am in at $5.51/share, so I am not at all disappointed with my current capital gain of a little over 100% for the roughly 4 years that I have been in. And yes, I too have been saddened to see so fewer postings on this board from some of the message posters of yester-quarters. But I have little doubt that the new top management team is doing a much better job of rebuilding Wendys into a winning business. So I am all in.
BOJA IPO Quiet Period expires with 11 underwriters able to issue coverage on BOJA! BOJA is the #1 breakfast volume restaurant nearing $700,000 per restaurant (McDonald's is $625,000); BOJA restaurants do about $1.8 million volume per restaurant. BOJA plans to expand from 622 restaurants (41% company owned) to eventually 3,500...
Does Wendy's serve breakfast?
• BofA Merrill Lynch
• Wells Fargo Securities, LLC
• Jefferies LLC
• Goldman, Sachs & Co.
• Piper Jaffray
• William Blair
• KeyBanc Capital Markets
• RBC Capital Markets
• Stephens Inc.
• SunTrust Robinson Humphrey
Sentiment: Strong Buy
The Wendy's food is fresher than McDonalds food, and so is the business! I remember being really impressed back in the late 1950's when I saw the new McDonald's restaurants for the first time.
to name a few
I dare you to have the JALAPEÑO FRESCO SPICY CHICKEN SANDWICH with the ghost fries. You'll drop the meanest duce in about 6 hours. Taste great too. Make sure you're not going to be on a plane afterwards if you know what I mean.
Tasted great. Warm and crunchy but with an order of ghost fries I almost blew out my sphincter. I had to pull over on my way to work twice.