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Why Wendy's Stock Dropped Today

TheMotleyFool

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Shares of The Wendy's Company (NASDAQ: WEN) fell on Wednesday, following the release of the fast-food chain's first-quarter earnings results. As of 3 p.m. ET, Wendy's stock price was down more than 10%.

Wendy's revenue rose 6.2% year over year to $488.6 million. The gains were driven in part by the restaurant-company's acquisition of 93 previously franchised locations in Florida.

Wendy's same-store sales grew by 2.4% globally, including a 1.1% increase in the U.S. This muted comp growth, however, wasn't enough to offset higher commodity and labor costs. These costs, combined with expenses related to Wendy's expansion in the United Kingdom, drove a 5.4 percentage-point decline in its company-operated restaurant margin to 11.6%.

Source Fool.com

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