Wendy's/Arby's Group 4Q loss narrows

[March 03, 2011]  ATLANTA, Ga. (AP) -- Wendy's/Arby's Group Inc. says its fourth-quarter loss narrowed as the fast-food chain cut expenses.

The Atlanta company, which is considering selling its struggling Arby's business, also highlighted plans to roll out new products, modernize its restaurants and open new locations.

Wendy's/Arby's on Thursday said it lost $10.8 million, or 3 cents per share, for the period ended Jan. 2. A year earlier it lost $13.6 million, or 3 cents per share.

Adjusted earnings were 1 cent per share, meeting analysts' expectations.

Wendy's/Arby's reported preliminary results in January.

Revenue fell 7 percent to $840.7 million but topped Wall Street's $839.4 million estimate.

Arby's has struggled more than other chains during the economic downturn because its sandwiches, which can cost $5 or more, are more expensive than many other fast-food offerings.

[Associated Press]

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