The Wendy’s Company reported results for the fourth quarter and fiscal year ended January 2, 2022.
The increase in revenues was primarily driven by an increase in advertising funds, franchise royalty revenue, and sales at company-operated restaurants, all of which were largely due to higher same-restaurant sales. These items were also negatively impacted by lapping the 53rd operating week in 2020. Revenues also benefited from higher franchise fees, according to a company statement.
“2021 was a breakthrough year, as evidenced by significant growth across our business,” President and Chief Executive Officer Todd Penegor said. “Global same-restaurant sales accelerated to double digits on a one- and two-year basis, Company restaurant margins expanded by almost 200 basis points, and we opened more than 200 restaurants, highlighting the success of our strong brand and aligned system. In 2022, we are planning to deliver another year of accelerated growth across our three long-term growth pillars: significantly building our breakfast daypart, accelerating our digital business, and expanding our footprint across the globe. With a focus on executing our key priorities and maintaining the momentum in our business, our future is bright and I am confident that we will continue to make meaningful progress towards achieving our vision of becoming the world’s most thriving and beloved restaurant brand.”