since going to try to get in on the ipo, and follow this stock going forward. would start post about it. will trade on Toronto and New York.
would just to say that it will depend on what they price this at, in March. so will have to wait and see if there is value.
hope to get in on the ipo, will probably only get half (actaully probably a 1/3 of what I want.) still does not hurt to try.
Wendys long term are idiots for spinning this off....just dumb. Wendy shareholder will get the rest of tims after the 15% ipo.
thanks
selkirk
Tim Hortons top performing division as Wendy's swings to US$30M profit
February 3, 2006, 10:40 am
DUBLIN, Ohio (CP) - Tim Hortons remained the top-performing division of Wendy's International Inc. (WEN) in the fourth quarter, its booming sales on both sides of the border helping the burger chain swing to a $30-million-US profit.
Wendy's said Thursday its earnings improved to $29.96 million US, 25 cents per share, a vast improvement over its loss of $141.4 million, $1.25 per share, in the same period a year before. Total sales were virtually flat at $977 million in the fourth quarter ended Jan. 1, compared with $978 million in the prior year.
Wendy's shares fell 25 cents to $58.14 US in Friday trading on the New York Stock Exchange. But they are still near the upper end of their 52-week range of $36.73 to $59.94.
Poised to be spun off in an initial public offering set for March, Tim's was the main driver behind earnings growth.
The mainstay of the Canadian coffee-doughnut crowd contributed a 12.8 per cent larger share of sales revenue to company coffers - $341.6 million or 34.9 per cent of the total - than in the fourth quarter a year before.
Wendy's restaurants, on the other hand, continued to show lacklustre sales, contributing 5.4 per cent less toward revenues than in the prior-year period at $588.9 million, down from $622.5 million.
Full-year profit at Wendy's also improved, moving up to $224 million, $1.92 per share, from $52 million, 45 cents per share, in 2004. Total revenues for 2005 were $3.78 billion, up 4.1 per cent from $3.64 billion in the year before.
That too owed much to the success of Tim Hortons, where same-store sales increased 5.2 per cent in Canada and seven per cent in the United States. That came on the heels of increases of 7.4 per cent and 9.8 per cent respectively in 2004.
"Tim Hortons delivered another outstanding year, increasing revenues to $1.2 billion, up 19 per cent compared to 2004," chairman and CEO Jack Schuessler said in a statement.
Schuessler added that the rollout of a chunk of Tim Hortons in an IPO is "on track for late March."
Wendy's plans to offer 18 per cent of Tim Hortons on the Toronto and New York stock exchanges. That first tranche will be worth an estimated $600 million US, but the planned IPO values the entire chain at about $4 billion US.
It then plans to spin off the rest of Tim Hortons within nine to 18 months by giving its shareholders new stock that represents the remaining stake in the division.
Industry observers say the Tim Hortons shares could be worth between $29 and $36 US each.
Elsewhere in its financial report Wendy's International said same-store sales, or sales at locations open at least one year, fell 3.7 per cent at its Wendy's restaurants. The same-store figure is a key measure of a retailer's performance.
The company closed 40 underperforming Wendy's stores and sold 171 Wendy's real estate properties in the second half of the year.
would just to say that it will depend on what they price this at, in March. so will have to wait and see if there is value.
hope to get in on the ipo, will probably only get half (actaully probably a 1/3 of what I want.) still does not hurt to try.
Wendys long term are idiots for spinning this off....just dumb. Wendy shareholder will get the rest of tims after the 15% ipo.
thanks
selkirk
Tim Hortons top performing division as Wendy's swings to US$30M profit
February 3, 2006, 10:40 am
DUBLIN, Ohio (CP) - Tim Hortons remained the top-performing division of Wendy's International Inc. (WEN) in the fourth quarter, its booming sales on both sides of the border helping the burger chain swing to a $30-million-US profit.
Wendy's said Thursday its earnings improved to $29.96 million US, 25 cents per share, a vast improvement over its loss of $141.4 million, $1.25 per share, in the same period a year before. Total sales were virtually flat at $977 million in the fourth quarter ended Jan. 1, compared with $978 million in the prior year.
Wendy's shares fell 25 cents to $58.14 US in Friday trading on the New York Stock Exchange. But they are still near the upper end of their 52-week range of $36.73 to $59.94.
Poised to be spun off in an initial public offering set for March, Tim's was the main driver behind earnings growth.
The mainstay of the Canadian coffee-doughnut crowd contributed a 12.8 per cent larger share of sales revenue to company coffers - $341.6 million or 34.9 per cent of the total - than in the fourth quarter a year before.
Wendy's restaurants, on the other hand, continued to show lacklustre sales, contributing 5.4 per cent less toward revenues than in the prior-year period at $588.9 million, down from $622.5 million.
Full-year profit at Wendy's also improved, moving up to $224 million, $1.92 per share, from $52 million, 45 cents per share, in 2004. Total revenues for 2005 were $3.78 billion, up 4.1 per cent from $3.64 billion in the year before.
That too owed much to the success of Tim Hortons, where same-store sales increased 5.2 per cent in Canada and seven per cent in the United States. That came on the heels of increases of 7.4 per cent and 9.8 per cent respectively in 2004.
"Tim Hortons delivered another outstanding year, increasing revenues to $1.2 billion, up 19 per cent compared to 2004," chairman and CEO Jack Schuessler said in a statement.
Schuessler added that the rollout of a chunk of Tim Hortons in an IPO is "on track for late March."
Wendy's plans to offer 18 per cent of Tim Hortons on the Toronto and New York stock exchanges. That first tranche will be worth an estimated $600 million US, but the planned IPO values the entire chain at about $4 billion US.
It then plans to spin off the rest of Tim Hortons within nine to 18 months by giving its shareholders new stock that represents the remaining stake in the division.
Industry observers say the Tim Hortons shares could be worth between $29 and $36 US each.
Elsewhere in its financial report Wendy's International said same-store sales, or sales at locations open at least one year, fell 3.7 per cent at its Wendy's restaurants. The same-store figure is a key measure of a retailer's performance.
The company closed 40 underperforming Wendy's stores and sold 171 Wendy's real estate properties in the second half of the year.
