USA: International business no longer focus for Wendy's
Jack Schuessler, CEO of US diner-chain Wendy's , revealed to investors at a meeting last Thursday (16 November) that international operations will soon cease to be the prime focus of long term target for lifting earnings by 12 to 15%.Profit of US$6.1m was accrued by international business during the first three quarters this year, but the company, which controls 685 outlets in Latin America, Asia, Europe and Canada, has been dogged by weak performance in Argentina. Operating losses here alone reached US$3.2m, and Wendy's is now admitting that investment plans in such areas would be reviewed. "The group continues to support franchisees' business plans and growth objectives in more than 30 countries and territories around the world," said a spokesman for Wendy's. As Schuessler explains, however: "going forward, the best way that we can create value is to focus on our core business of Wendy's in North America and [coffee shop chain]
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Danone's Q1: four things to learn
- Interview: Sir Kensington's on sale to Unilever
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Interview: "Disruptive" snack brand Hippeas
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre