Wendy's Cuts Forecast, Cites Hurricanes
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Restaurant operator Wendy's  International Inc. WEN.N on Tuesday cut its 2004 earnings  forecast, citing hurricanes, higher legal reserves, costlier  beef and challenges at its Baja Fresh Mexican Grill chain.
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Business & money: World's biggest fast food chain surprises Wall St with warning that consumers are cutting back on Big Macs
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Tropical activity is no longer likely in the northwestern Caribbean or eastern Gulf of Mexico over the next couple of days, the U.S. National Hurricane Center said in a report Monday.
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Wendy's struggles hit at the worst possible time.
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Hamburger chain Wendy's  International Inc. WEN.N on Wednesday reported a quarterly  loss after taking a $190 million charge for its struggling Baja  Fresh chain.
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Wendy's International Inc. WEN.N  on Thursday reported higher quarterly earnings, but  slashed  its 2004 earnings outlook for the second time in a month,  citing tough competition from fast food rivals.
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A noted U.S. hurricane forecaster said on Tuesday the milder-than-expected Atlantic season will produce just two more tropical storms and no more "major" hurricanes due to El Nino conditions in the Pacific.
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U.S. restaurant operators on Friday  said consumers should see tomato slices back on their burgers  in the next few days following a recent shortage that led many  chains to restrain their use of the round red fruit.
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US emergency cut in response to weakening economic outlook and recession fears
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Insurance adjusters and meteorologists are still crunching numbers and analyzing data, but the 2004 U.S. hurricane season will likely go down as one of the most active on record.
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Insurer St. Paul Travelers said the three major hurricanes that hit the US east coast in recent months will cut 45 cents from its third-quarter earnings per share.
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Federated Departments Stores Inc. said Monday that Hurricane Jeanne will hurt third-quarter earnings by 1 cent to 2 cents per share, further lowering an outlook already cut because of lost sales from Hurricane Frances.
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A tropical depression could form in the Atlantic Ocean over the next couple of days, the U.S. National Hurricane Center said on Monday.
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Some retailers are benefiting from the rash of hurricanes.
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Hurricane season has affected many corporations, with varying outcomes.
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Hurricanes, weak back-to-school sales, and weak European business bring an earnings warning.
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Office Depot Inc. (ODP.N: Quote, Profile, Research) on Tuesday warned of weaker-than-expected profits for the rest of the year because of disruptions from the string of hurricanes