DUBLIN, Ohio — Wendy’s has reported its quarterly profit and announced plans to sell 425 of its restaurants to franchisees, according to the Associated Press (AP).
The second-quarter net income came to $12.2 million or three cents per share in contrast to last year’s loss of $5.5 million or one cent per share.
According to AP, the unit sales will shrink company ownership from 22 per cent of locations to 15 per cent. The change is expected to help franchisees with the adaption of a new modern restaurant design that feeds into the trend toward high-end fast food.
