US restaurant chain Wendy’s International has predicted a fall in earnings in the first quarter of 2005.
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“In the first two quarters of 2005, the Company has faced difficult sales comparisons, higher than expected beef costs, expenses associated with the rollout of Wendy’s double-sided grill and costs for Tim Hortons’ new distribution centre in Canada,” it said.
The price of beef during the first quarter was $1.42 a pound, compared with $1.34 last year. The company said it anticipates beef prices of around $1.52 a pound for the second quarter of the year, compared with $1.23 last year.
Wendy’s said its management expects second half performance to be stronger than first half.
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