Wendy's Relishes Earnings Outlook

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Where's the beef? Right here, pal. Right here.

Wendy's

(WEN) - Get Report

, Dave Thomas' fast-food burger chain, this morning raised its outlook, saying its 2000 earnings per share would grow 17% to 19% and top previous estimates of 14% to 17% gains. The company cited strong sales in North America as a major reason for upping the forecast, but it also said sales in Argentina disappointed.

You don't need to be a Spanish scholar to know that adios means goodbye. Wendy's said it would close its 18 stores in Buenos Aires, laying off 600 employees. As a result, the company said it will absorb a pre-tax charge of $17 million to $22 million in the fourth quarter, or 8 to 11 cents a share. Overall, however, the company said its growth will exceed the earlier estimates.