Wendys Co (NASDAQ:WEN) shares rose around 4% in early deals on Wednesday after the fast-food group’s second quarter results exceeded (albeit low) expectations.
North America same-restaurant sales were up 3.2% in the quarter, which the company highlighted was the 18th consecutive quarter of growth.
Total revenue amounted to US$320mln, down from US$382.7mln in the comparative period last year due to there being fewer company-owned units, but, was ahead of Wall Street expectations for US$310mln.
"After recording our 18th consecutive quarter of positive same-restaurant sales and as we continue to strengthen the Wendy's brand through new restaurant development and Image Activation, we are pleased with our progress and remain confident in our long-term targets,” said Todd Penegor, Wendys chief executive.
"More than one-third of the global system is now Image Activated and we continue advancing towards our global expansion goals with 35 new restaurant openings during the second quarter and 68 openings year-to-date.
“We, along with our exceptional and dedicated franchisees across the globe, remain committed to delighting every customer and to our brand purpose of creating joy and opportunity through our food, family and community."