DavCo Restaurants Inc.

From the April 28, 1997 Washington Post

	'96 (in $ 000s)	% Change From '95
Revenue	206,903	(0.8)
Net Income	5,798	(31.1)
Rank Last Year: 46

Description:
DavCo operates 228 Wendy's restaurants in Maryland, Northern Virginia, the District, metropolitan St. Louis and central Illinois.

Business Resume: Contact Info -- 1657 Crofton Blvd. Crofton, Md. 21114 410-721-3770 Main Business -- Restaurants Founded -- 1976 Chairperson -- Ronald D. Kirstien (CEO) President -- Ronald D. Kirstien Employees -- 8,000 D.C.-Area Employees -- 2,500

Developments:
DavCo's sales and earnings fell last year as the company battled the deep discounts that competitors, including McDonald's, offered to consumers in an effort to grab market share in the slow-growth fast-food industry. Sales at outlets open at least a year declined in the southern, midwestern and mid-Atlantic markets. Last year's bad weather and the federal government shutdowns caused the company to lose $2.9 million in sales, it estimated. Results also were affected by implementation of a new accounting standard.

Last year the company opened 10 restaurants in the mid-Atlantic region, two in St. Louis and two in the Nashville area. It closed one unprofitable unit.