Wendy's/Arby's Group 2Q net income falls
Wendy's/Arby's Group reports lower 2Q profit on weak sales at restaurants
The fast-food company that owns Wendy's and Arby's restaurants says its second-quarter net income fell by more than 28 percent as sales fell and charges cut into results.
For the quarter that ended in late June, Wendy's/Arby's Group Inc. earned $10.7 million, or 3 cents per share. That's down from last year's net income of $14.9 million, or 3 cents per share.
That figure includes charges of $15.2 million, or 3 cents per share.
Revenue slipped 4 percent to $877 million, down from $912.7 million last year.
Analysts expect the Atlanta company to earn 5 cents per share on revenue of $887 million for the quarter that ended in June. Those estimates typically exclude one-time items.
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