Wendy’s Lowers Profit 2002 Forecast Again

Wendy’s International Inc., the third-biggest U.S. hamburger chain, cut its profit forecast for a second time in a month as rivals McDonald’s Corp. and Diageo’s Burger King keep slashing prices.

Profit will rise this year to $1.88 to $1.90 a share, less than the company’s previous forecast of $1.90 to $1.91, Wendy’s said. Shares of Wendy’s, based in Dublin, Ohio, fell 13 cents to $27.32 on the NYSE.