- May 16, 2022 / 4 min readThe brand has also said it has its best quarters in the history for unit growth, with over 90 new restaurant openings.
QSR chain has recorded one of its best quarters in history in Q1 2022 with global same-restaurant sales up double digits and increased its global digital sales mix to over 10%, as per a Wendy’s release.
"We continue to make meaningful progress against our three strategic growth pillars, reinforcing the strength and resiliency of the Wendy's® brand and driving robust AUV and sales increases," shared Todd Penegor, President and Chief Executive Officer, Wendy’s.
The brand has also said it has its best quarters in the history for unit growth, with over 90 new restaurant openings, and are on track to reach their planned net unit growth goal of 5 to 6 percent for the year.
“We also competed well with Global same-restaurant sales up double digits once again on a two-year basis and increased our Global digital sales mix to over 10%. We are well positioned to win in this volatile environment, with strong franchisee alignment behind our strategies, and have strengthened our balance sheet with the successful debt raise transaction we recently completed,” added Penegor.
The decrease in company-operated restaurant margin was primarily the result of higher commodity and labor costs, customer count declines and the impact of the company's investments to support the entry into the U.K. market, stated the earnings release.
The decrease in adjusted EBITDA resulted primarily from higher general and administrative expense and a decrease in company-operated restaurant margin.
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