Wendy’s North America same-restaurant sales miss estimates By Reuters

© Reuters. FILE PHOTO – Logo of Wendy’s is on display in Tbilisi

(Reuters) – Wendy’s Co (O:) missed Wall Street expectations for quarterly sales at its established outlets in North America on Tuesday, as the burger chain struggled to lure diners in a fiercely competitive U.S. fast-food industry.

Net income rose to $391.2 million, or $1.60 per share, in the third quarter, from $13.7 million, or 5 cents per share, a year earlier.

The company’s same-restaurant sales in North America fell 0.2 percent in the quarter. Analysts on average were expecting same-store sales to rise 1.84 percent, according to IBES data by Refinitiv.

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