Wendy’s Cuts Forecast, Citing Hurricanes
From Reuters
Restaurant operator Wendy’s International Inc. cut its 2004 earnings forecast, citing hurricanes, higher legal reserves, costlier beef and challenges at its Baja Fresh Mexican Grill chain.
The Dublin, Ohio-based fast-food restaurant operator said it expected 2004 earnings per share of $2.25 to $2.30, versus its previous forecast of $2.32 to $2.37.
Wendy’s shares fell 19 cents to $35.50 on the NYSE.
