Wendy's third-quarter net income drops 66% to $15.1 million
WEN•Wendy's third-quarter net income fell 66% year over year to $15.1 million, while total revenue declined to $547 million, primarily due to lower franchise royalty revenue. The company also announced its Dave's Way strategy and a letter of intent to acquire up to 163 Meritage restaurants, subject to a definitive agreement and court approval.
1. Quarterly results and plans
Wendy's third-quarter net income fell 66% year over year to $15.1 million, and total revenue declined to $547 million, primarily due to lower franchise royalty revenue. Its new multi-year Dave's Way strategy targets customer traffic growth, market share gains and stronger restaurant profitability. A letter of intent covers acquiring up to 163 Meritage restaurants, subject to a definitive agreement and court approval.
