News Summary: Wendy's 3rd-quarter loss narrows

AP News
Posted: Nov 07, 2013 11:48 AM

THE NEWS: Wendy's third-quarter loss narrowed as more customers snapped up offerings at its restaurants, including its new Pretzel Bacon Cheeseburger and Pretzel Pub Chicken sandwich. Results beat expectations and the company raised its guidance Thursday.

THE BIG PICTURE: Wendy's is pushing renovations to make its restaurants more inviting, in addition to rolling out more items positioned as premium offerings.

SHARES FALL: The company said it expects adjusted earnings, before taxes, interest, and other items, to fall 10 percent in the fourth quarter, as it invests in future growth initiatives. Shares fell 13 percent in morning trading, retreating from a five-year high reached Wednesday.