The Wendy’s Company (NASDAQ:WEN) shares slipped after third-quarter same-store sales in North America missed Wall Street estimates.
The fast food chain reported earnings of $0.17 per share on revenue of $400.6 million compared with $0.09 EPS on revenue of $308 million in the previous year’s third quarter.
The Ohio-based company beat Wall Street estimates of $0.15 EPS on revenue of $405.36 million.
Shares of Wendy’s sank nearly 6% to $16.06 in Tuesday after-hours trading.
The chain offered several promotions, including a and Frosty desserts for $0.50, but it struggled in the face of growing fast food competition from the likes of McDonald’s Corporation (NYSE:MCD) and Taco Bell.
Same-restaurant sales in North America fell 0.2% in the quarter while analysts had expected same-store sales to rise 1.84%.
For the full-year, Wendy’s is expecting earnings between $0.56 per share and $0.58 per share.
Contact Lenore Fedow at [email protected]