Wendy's posts loss on refinancing; sales figure up
NEW YORK (AP) -- The Wendy's Co. says it lost money in the second quarter because of costs to refinance debt. But a key sales figure rose as the company tries to reinvent itself as a higher-end hamburger chain.
The Dublin, Ohio-based fast-food company says sales at restaurants open at least 15 months rose 3.2 percent for the quarter, helped by new menu items such as the Spicy Guacamole Chicken Club sandwich.
For the three months ended July 1, the company says it lost $5.5 million, or a penny per share. That compares with a profit of $11.3 million, or 3 cents per share, a year ago.
Excluding one-time items, Wendy's earned 5 cents per share, in line with expectations.
Wendy's shares rose 18 cents, or 4 percent, to $4.54 in premarket trading.
(Copyright 2012 by The Associated Press. All Rights Reserved.)