Calpers Stake in Wendy’s Paying Off
Wendy’s (NYSE:WEN) announced plans to open up to 100 new restaurants in Japan over the next 5 years. Institutional investors have shown some bullish sentiment for Wendy’s shares. CALPERS reported adding 1,188,809 shares in the third quarter. Since then, the stock has been up between 10 and 25 percent.
Darrell van Ligten, Wendy’s President of International Operations was quoted as saying “We are delighted to join with a highly capable partner, Ernie Higa, to bring Wendy’s brand to Japan and rapidly grow our presence in one of the largest quick-service restaurant markets in the world. The opening of our first joint venture restaurant in Japan is an important step in our international growth plans, and an expression of our confidence in the bright future of Japan.”
As Japan looks to recover from its recent earthquake, Wendy’s could reap rewards with this latest initiative. Wendy’s sees long-term potential of 700 restaurants in the Japanese market.
Wendy’s Competitors to watch: McDonald’s Corporation (NYSE:MCD), Jack in the Box, Inc. (NASDAQ:JACK), Carrols Restaurant Group (NASDAQ:TAST), Good Times Restaurants (NASDAQ:GTIM), and Yum! Brands, Inc. (NYSE:YUM).
To contact the reporter on this story: Dave Friedman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com