USA: Wendy's sales hit by hurricanes
US fastfood company Wendy's International has reported a 2.8% rise in US company same-store sales for August.
Wendy's US franchise same-store sales rose 1.2-1.5% in August. The company said August 2004 sales at Wendy's restaurants were affected by hurricanes in the Southeastern United States, which resulted in temporary store closures at about 100 restaurants. This negative impact was offset by the favourable comparison to August 2003 resulting from last year's power outage in the Northeast United States and Canada. The effect of the power outages helped give a very strong comparative sales performance at the company's Tim Hortons chain during the period.
Same-store sales at Tim Hortons Canada rose 9.5-9.7% for August 2004 compared to the year-ago period. Same-store sales at Tim Hortons US rose 10.4%.
Wendy's also reiterated its 2004 earnings-per-share growth goal of $2.32 to $2.37, a 13% to 16% increase over 2003 earnings of $2.05 per share.
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