Wendy's Same-Store Sales Jump

The burger chain has its best quarterly comps performance in two years.
Author:
Publish date:

Wendy's

(WEN) - Get Report

reported a 4.1% rise in same-store sales at company-owned stores for the third quarter, the burger chain's best quarterly comps performance in two years.

Same-store sales rose 3.9% at Wendy's U.S. franchised restaurants in the quarter. The company said its July and August sales were "encouraging," while September was strong at 4.3%.

"With this performance, our year-to-date same-store sales at company restaurants have turned positive, which is another sign that our turnaround is well under way," said interim CEO and President Kerrii Anderson.

The company also said it has continued to see improvement on the cost side as beef and chicken costs fall. Wendy's expects to cut expenses by $100 million in 2007.

Separately, Wendy's former chain

Tim Hortons

(THI)

posted a 9.2% jump in U.S. same-store sales for the third quarter, while same-store sales at its Canadian restaurants rose 5.9%.

Wendy's completed the spinoff of its stake in the doughnut chain last week.