Wendy's To Sell Bakery Business, 640 Restaurants
May 8, 2015 | 1 min to read
Wendy's Co. announced plans Wednesday to sell off its Ohio bun-making business this month, while the burger chain provided greater detail about plans to sell off more than 600 of its company-owned restaurants to franchisees.
The company also reported profit that narrowly topped Wall Street expectations for the first quarter, through sales fell below expectations amid fewer stores.
Shares of Wendy's, up about 31% in the last year, gained 5.3% in morning trading to $10.98.
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