Wendy's to spend big on breakfast for 2020 sales growth [Reuters]
McDonald's Corporation (MCD)
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Source: Reuters
Wendy's to spend big on breakfast for 2020 sales growth NEW YORK (Reuters) - The Wendy’s Co ( WEN.O ) on Wednesday projected system-wide sales to grow 10% to 15%, or up to $12.5 billion, through 2020 as the burger chain prepares next week to officially launch breakfast. The Ohio-based restaurant chain plans to spend $70 million to $80 million this year to advertise its leap into morning meals, on top of the $17 million it has already spent gearing up, Chief Financial Officer Gunther Plosch said during a call to report fourth quarter earnings. Wendy’s shares were down more than 2% after Wall Street opened. Financial results were mostly in line with estimates. Net income for the fourth quarter ended Dec. 29 was $26.5 million, higher than analysts’ expected $19.61 million, according to IBES data from Refinitiv. Global sales growth of 5.9% in the fourth quarter and 4.4% for the full year 2019 were offset by lower restaurant margins, hurt in part by higher labor costs. Wendy’s began sell
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- MCD's page on the SEC website