Wendy's misses revenue estimates, points to recovery in sales
Reuters
Published Aug 05, 2020 07:20
(Reuters) - Wendy's Co (O:WEN) on Wednesday fell short of Wall Street estimates for quarterly revenue, but signaled a recovery in sales in the last two months as lockdown restrictions eased.
The burger chain's revenue fell about 8% to $402.3 million in the second quarter ended June 28, missing the estimate of $409.7 million, according to IBES data from Refinitiv.
Its U.S. same-store sales rose 8.2% in July after posting a 5.1% growth in June, helped by strong performance of its breakfast items.
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Written By: Reuters
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