Wendy's/Arby's Group loses money in 1st quarter

ATLANTA (AP) - Wendy's/Arby's Group lost money in its first quarter as customers spent less at its Arby's locations and charges pressured results.

The owner of Wendy's and Arby's restaurants reported a loss of $3.4 million, or a penny per share, for the three months ended April 4. That compares with a loss of $10.9 million, or 2 cents per share, last year.

Removing 3 cents per share in charges, profit was 2 cents per share.

Revenue fell 3 percent to $837.4 million.

Wall Street expected the Atlanta company to earn 1 cent per share on revenue of $835.2 million.

Revenue at long-struggling Arby's restaurants fell 12 percent.