U.S. Markets closed
  • S&P Futures

    4,134.50
    -13.25 (-0.32%)
     
  • Dow Futures

    33,885.00
    -77.00 (-0.23%)
     
  • Nasdaq Futures

    12,575.25
    -48.75 (-0.39%)
     
  • Russell 2000 Futures

    1,985.10
    -8.40 (-0.42%)
     
  • Crude Oil

    73.48
    +0.09 (+0.12%)
     
  • Gold

    1,890.10
    +13.50 (+0.72%)
     
  • Silver

    22.52
    +0.12 (+0.54%)
     
  • EUR/USD

    1.0800
    +0.0003 (+0.0324%)
     
  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     
  • Vix

    18.33
    -0.40 (-2.14%)
     
  • GBP/USD

    1.2062
    +0.0006 (+0.0470%)
     
  • USD/JPY

    131.6870
    +0.5370 (+0.4095%)
     
  • BTC-USD

    22,912.39
    -428.60 (-1.84%)
     
  • CMC Crypto 200

    525.58
    -11.28 (-2.10%)
     
  • FTSE 100

    7,901.80
    +81.64 (+1.04%)
     
  • Nikkei 225

    27,706.50
    +197.04 (+0.72%)
     

Wendy's loss widens amid turnaround push

Wendy's loss widens amid turnaround push; key sales figure rises

NEW YORK (AP) -- Wendy's reported a wider net loss for the third quarter that fell short of Wall Street expectations, but a key sales figure rose.

The company, which is in the middle of a turnaround push, said Thursday that revenue at restaurants open at least 15 months rose 2.7 percent, marking the sixth straight quarter of growth. It's a good gauge of a retailer's health because it strips out the volatility of newly opened and closed stores.

Wendy's, based in Dublin, Ohio, is trying to position itself as a purveyor of higher quality burgers and sides compared with its fast-food rivals, a move that would follow shifting consumer trends and allow the company to charge more for meals.

For the three months ended Sept. 30, The Wendy's Co. lost $26.2 million, or 7 cents per share, as it booked charges for the early retirement of debt. It posted a loss of $4 million, or a penny per share, a year ago when it incurred costs related to the sale of Arby's.

Not including one-time items, Wendy's says it earned 3 cents per share. Analysts expected 5 cents.

Total revenue rose 4 percent to $636.3 million. Analysts forecast $640.6 million.

The company declared an increase in its quarterly dividend to 4 cents per share from 2 cents per share.