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Wendy's misses revenue estimates, points to recovery in sales

Reuters logo Reuters 8/5/2020
a sign on the side of a building: A Wendy's sign and logo are shown at one of the company's restaurant in Encinitas, California © Reuters/Mike Blake A Wendy's sign and logo are shown at one of the company's restaurant in Encinitas, California (Reuters) - Wendy's Co on Wednesday fell short of Wall Street estimates for quarterly revenue, but signaled a recovery in sales in the last two months as lockdown restrictions eased.

The burger chain's revenue fell about 8% to $402.3 million in the second quarter ended June 28, missing the estimate of $409.7 million, according to IBES data from Refinitiv.

Its U.S. same-store sales rose 8.2% in July after posting a 5.1% growth in June, helped by strong performance of its breakfast items.

(Reporting by Praveen Paramasivam in Bengaluru)

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