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Wendy’s misses revenue estimates, points to recovery in…

Aug 5 – 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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