February 21, 2018 / 9:19 PM / 7 months ago

Wendy's same-restaurant sales miss estimates

Feb 21 (Reuters) - U.S. burger chain Wendy’s Co reported on Wednesday a smaller-than-expected rise in fourth-quarter sales at its restaurants in North America as fewer customers visited its outlets compared with its rivals such as McDonald’s Corp.

Same-restaurant sales in North America rose 1.3 percent in the quarter. Analysts on average were expecting same-store sales to rise 1.8 percent, according to research firm Consensus Metrix.

Net income rose to $159.3 million, or 64 cents per share, from $28.9 million, or 11 cents per share, in the quarter ended Dec. 31, benefiting from a $121.6 million gain due to changes in the U.S. tax law.

Total revenue fell to $309.2 million from $309.9 million.

Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur

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