Fueled by lower overhead and interest expenses, Wendy’s/Arby’s Group (NYSE:WEN) cooked up on Thursday a narrowed fourth-quarter loss.
The Atlanta-based company posted a net loss of $10.8 million, or 3 cents a share, compared with a loss of $14.7 million, or 3 cents a share, in the same quarter last year, below average analyst estimates polled by Thomson Reuters of a 2-cent profit. The latest period included a charge of 4 cents per share.
Continue Reading Below
Revenue for the owner of Wendy’s and Arby’s quick service restaurants was $840.7 million, slightly below the Street’s view of $900 million a year ago, matching the Street’s view.
Overhead expenses declined 16% during the quarter, while interest costs fell 12%.
Roland Smith, the company’s chief executive, said the group is undergoing comprehensive plans to drive sales at existing restaurants, including the introduction of new products and modernization of facilities. The fast food chain will also be exploring opportunities to expand abroad.