The Wendy’s Company (NASDAQ:WEN) reported a second quarter loss, primarily due to a $25.2 million charge for refinancing its debt and impairment charges incurred on the consolidation of its restaurant support business. Rising expenses also pressured earnings.
On the other hand the core business of the company improved as its drive to remodel itself as a high end hamburger chain gained traction. Sales at restaurants, open at least 15 months, climbed 3.2 percent in the quarter, as its remodeled restaurants, menu innovations, and a brand new TV campaign played a role.
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