Wendy's swings to 3Q loss on takeover costs

Thu Nov 6, 2008 9:14 AM EST

Wendy's swung to a third-quarter loss due to costs related to its takeover by the owner of the Arby's chain.

Wendy's International Inc. says it recorded a loss of $29.85 million, or 34 cents per share, compared with a year-ago profit of $29.9 million, or 34 cents per share.

The results do not include the Arby's chain. Triarc Cos. Inc., the owner of Arby's, bought Wendy's in a deal that closed at the end of the quarter in September.

The company says its results include charges of $68.5 million associated with the deal

Revenue fell slightly to $624.9 million from $629.8 million, as a tough economy crimped consumer spending and more consumers dined at home.

Same-store sales dropped 0.2 percent at company-owned stores.

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Wendy's swings to 3Q loss on takeover costs

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