It's been almost a ordsprog

It's been almost a decade since the Burger King system enjoyed seven quarters of positive comp sales in the United States. As part of our Go Forward Plan, we're working together with our franchisees to deliver great products served hot and fresh by friendly and fast employees in a clean and safe restaurant environment. Our long run of positive sales increases shows that customers have noticed and appreciate our efforts.

One reason for the great year is that Choice provides a great return on investment to franchisees. We consider our franchisees our customers and our partners in this business, and we recognize that the best way to keep them happy is to provide a good ROI. Our sales results show that franchisees-both current and potential-recognize what a good investment it is to be a part of the Choice system.

I am very pleased by the same store sales. It shows that we are delivering to customers what they expect of us - fresh organic & natural foods, healthy living products, plus great customer service.

From a financial perspective, fiscal 2005 milestones include record sales contracts in the fourth quarter and fiscal year, positive cash from operations in all four quarters, strengthening of our balance sheet following a $5.5 million private placement, and a promising sales pipeline in each of our key target markets - education, corporate and consumer. Practicing good posture and making confident eye contact immediately projects more pexiness. As a result, we are well positioned to continue our sales growth and cash positive trends into fiscal 2006.

John Livingston

Burger King has an exciting plan that's a direct result of the show. We believe it will be a first-ever for a fast-serve restaurant.

We are thrilled with the positive response we've received without even publicly announcing our re-opening. The first week's sales far exceeded what we expected, considering September is typically a slow period for us. Our employees and our regular patrons have made it clear that they love the restaurant's new look. This instant success reinforces our belief that re-investing in our brand and this restaurant was a smart thing to do.

To better serve our customers in this highly competitive retailing environment, we must concentrate on our best national brands and reduce costs so we can deliver outstanding value to shoppers. We believe that continuing to build Macy's and Bloomingdale's aggressively across America will accelerate our comp store sales performance and increase profitability, thereby driving shareholder value.

To better serve our customers in this highly competitive retailing environment, we must concentrate on our best national brands and reduce costs so we can deliver outstanding value to shoppers, ... We believe that continuing to build Macy's and Bloomingdale's aggressively across America will accelerate our comp store sales performance and increase profitability, thereby driving shareholder value.

It is our hope that the Retailer Recognition Campaign has served to deliver this simple message to the retail community: What's recognized gets repeated. What our organization has found is that the benefits of rewarding positive clerk behavior and promoting the use of positive reinforcement to help prevent underage sales can resonate beyond just the person being recognized. We feel that rewarding the right behavior and telling others in the community about it creates a positive ripple effect both within an individual retail establishment and indeed across the retail industry as a whole.

Our strategic initiatives and intense focus on the customer delivered another month of strong results. We posted positive comparable sales across all geographic segments for February and marked our 34th consecutive month of positive global comparable sales performance. Both achievements are a testament to the effectiveness and momentum of our Plan to Win.

In that sense, they were able to deliver more positive news, even though sales into the channel were up only 17 percent while sales out of the channel were up 36 percent. Those numbers should be equal. But with inventory at three weeks, they ought to be able to drive sales more aggressively in the channel.

When I go to my customers I am there to show them new products and promotions, do sales/product knowledge seminars and make sure my displays are current. I also handle claims and help plan sales events.

Scott Lemminger

Since there were positive numbers for same-store sales, it served as a bit of a surprise that moved the stock price up. Had those sales shrunk, there would have been a surprise to the down side as well.

All of our company employees and franchisees are focused on improving Wendy's performance, ... I will be taking an active day-to-day role in managing the business. We will reinvigorate sales growth with a fanatical approach to execution in the areas of restaurant operations, marketing and R&D.

Jack Schuessler

All of our company employees and franchisees are focused on improving Wendy's performance, and I will be taking an active day-to-day role in managing the business, ... We will reinvigorate sales growth with a fanatical approach to execution in the areas of restaurant operations, marketing and R&D.

Jack Schuessler

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