Financial News-Wendy's, Sonic, RadioShack, Panera Bread
Dublin, Ohio-Wendy's International Inc. says it expects net income to rise 1.1 percent in the second quarter as strength at the company's Tim Horton's units helped mitigate higher beef and utility costs. The company expects overall net income of about $56 million, or 47 cents a share, in the quarter, up from the 43 cents a share earned a year ago. -Reuters
Oklahoma City, Oklahoma-Sonic Corp. recorded a 26-percent increase in net income and a 23-percent increase in revenues during the quarter ended May 31. The drive-in restaurant company saw net income grow from $9.1 million a year ago to $11.5 million. Sonic CEO Clifford Hudson cites higher franchising income, improved profitability at the restaurant and corporate levels, and increased drive-in openings as factors in the company's performance. -Daily Oklahoman Online
Fort Worth, Texas-RadioShack reports that sales at stores open at least one year rose 4 percent in June on strong sales of wireless equipment. Total sales in June rose 8 percent to $356.6 million from $331.4 million last year. -Reuters
St. Louis-Systemwide comparable store sales for Panera Bread Co. increased 6.8 percent for the four-week period that ended June 16 and 7.2 percent for the 24-week period that ended June 16. -PR Newswire
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