Business

Market Mover

Wendy’s profit tops Street’s expectations

Wendy’s ‘‘Right Price Right Size’’ menu has items ranging from 99 cents to $1.99.

Associated Press/File 2012

Wendy’s ‘‘Right Price Right Size’’ menu has items ranging from 99 cents to $1.99.

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Wendy’s new value menu and focus on premium burgers helped its quarterly net income top expectations. The chain has also begun revamping restaurants with a modern look with causal seating areas akin to what “fast-casual’ chains like Panera Bread offer. Profit jumped to $22.4 million, or 6 cents per share, up sharply from $4 million, or 1 cent, a year earlier. The results included a tax benefit, lower interest expense, and a sharp rise in investment­ income.

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