Arbys, Wendys suffer losses

[moneysense]

Both fast food chains have suffered losses in the third quarter because of slower sales and costs form the take over of the number three hamburger chain eating into profits.

Since the take over of Wendys, by Arbys, the new name will be Wendys/Arbys Group Inc.

In Ohio alone, Wendys in Dublin posted a loss of $29.85 million compared to a profit a year ago of $29.9 million.

At Wendys, revenue fell 0.2 percent at company owned stores.

The economy, lack of eating out by consumers, has caused a drop in revenue.

Wendys has fallen behind other fast food restaurants and is focusing on quality of food plus value. Another reason was discounting at competitors which played a part in declining sales.