The Wendy’s Co (NASDAQ:WEN) Declares Sale Of 30 Restaurants; Profit Hits Approximation
Denver, CO, 08/14/2013 (Avauncer.com) – The Wendy’s Company (NASDAQ:WEN) has made declaration about the sale of around thirty restaurants in the St. Louis zone to BB St. Louis, LLC, an affiliation led by current Wendy’s franchisee and ex NBA great Junior Bridgeman, together with existing National Basketball Association superstar Chauncey Billups.
The deal comprises 29 subsisting restaurants and one restaurant presently going through construction process. With this deal, Bridgeman, who is Wendy’s Company second-biggest franchisee, currently has total or partial possession of 196 Wendy’s eating places. This marks Billups’ initial entry into the restaurant business.
Wendy’s Company President and CEO Emil Brolick stated that the sale is a vital part of the firm’s continuing brand alteration that consists of reimaging and formulating novel restaurants, an innovative Wendy’s symbol, ground-breaking products and bold novel packaging.
Wendy’s Company is aiming the end of the second quarterly period of the coming year for the culmination of these deals.
“We are intensifying our association with winning, well-capitalized franchisees with sturdy operating credentials and a promise to our Image Activation reimaging plan,” Brolick added.
“We have savored a long association with Junior Bridgeman, and he is an outstanding individual, a brilliant operator and very dedicated to building a ‘people’ ethnicity. Besides, we are keen to welcome Chauncey to the Wendy’s kin.”
Wendy’s Co. Q2 Profit Beats Estimate
For the second quarterly period ended June 30, 2013, Wendy’s Company recorded net income of $12.2 million as compared to a loss of $5.5 million posted during the same period of 2012. On an adjusted basis, the company’s per-share earnings remained at $0.08 during the second quarterly period ended June 30, 2013.
Wendy’s Frankton hits world record in sale facts
Wendy’s Company chief executive officer Danielle Lendich stated that the store served over 10,000 clients during its initial week and hit the hourly sale facts record by around $300, every day record by around $6,000 and the weekly record by around $12,000 - up 6.7% on the preceding titleholder.