After apparently exhausting its turnaround options, the No. 3 burger chain today has "determined that the exploration of a sale is the appropriate next step in the investigation of value-creating alternatives for our stakeholders," according to a statement from James V. Pickett, chairman of the board and the chain's special committee.
Some analysts view today's move as a no-confidence vote in Wendy's new campaign from Saatchi and Saatchi.
He said a sale is still just
one option among others, but "we believe it merits more thorough examination."
The company also adjusted its outlook for 2007 based on lower-than-expected same-store sales and higher commodity costs. Same-store sales grew 3.8% during the first quarter but just 0.7% during the second quarter through June 15.
clipped from: adage.com 