⁍ Wendy’s saw its sales recover in June and July as several U.S. states eased lockdown restrictions.
⁍ Fast-food chain’s quarterly profit narrowly beat Wall Street expectations.
⁍ Wendy’s also said on Wednesday it intended to resume share repurchases in 2020.
– Wendy’s sales fell in the second quarter, but the fast-food chain managed to beat analysts’ expectations, thanks in part to its new breakfast menu. Wendy’s said Wednesday that sales fell 4.4% at company-owned stores in the second quarter, but that excluding items, it earned 12 cents per share, beating analysts’ estimates of 11 cents per share, Reuters reports. The chain, which introduced its new breakfast items in March, said it would invest $13 million more in the category in the second half of the year.
Source: https://www.reuters.com/article/us-wendy-results/wendys-signals-sales-recovery-on-breakfast-strength-after-covid-19-dent-idUSKCN2511K3