UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 18, 2003
TRIARC COMPANIES, INC.
-----------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 1-2207 38-0471180
--------- ------- ----------
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification Number)
280 Park Avenue
New York, NY 10017
------------------ -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 451-3000
------------------------------------- --------------
(Former name or former address, (Zip Code)
if changed since last report)
Item 9. Regulation FD Disclosure
The information in this Report is being furnished, not filed, pursuant to
Regulation FD. The information in this Report shall not be incorporated by
reference into any registration statement pursuant to the Securities Act of
1933, as amended. The furnishing of the information in this Report is not
intended to, and does not, constitute a determination or admission that the
information in this Report is material, or that investors should consider this
information before making an investment decision with respect to any security of
Triarc Companies, Inc. or Arby's, Inc.
Our subsidiary Arby's, Inc. has delivered to certain parties a report
containing certain unaudited financial and operating information in accordance
with the terms of the indenture relating to the 7.44% fixed rate insured notes
due 2020 issued by its subsidiary Arby's Franchise Trust. The information within
the report is subject to finalization including the effect of any audit
adjustments. Such report, which reflects Arby's U.S. and Canadian operations for
the period from October 1, 2002 through December 29 or 31, 2002 (as applicable),
was prepared in accordance with the reporting requirements of such indenture,
and not in accordance with generally accepted accounting principles.
Accordingly, pursuant to Regulation FD, Triarc is furnishing in this Report
certain unaudited information reflected in the Arby's report that has not been
previously publicly disclosed, as follows:
o During the period October 1 to December 31, 2002 Arby's
reported collections of franchise royalties of approximately
$22.9 million from U.S. and Canadian Arby's franchisees.
o During the period October 1 to December 31, 2002 Arby's
reported gross collections (including royalties) from U.S. and
Canadian franchisees of approximately $24.1 million and
reported servicing expenses of approximately $8.2 million.
o During the period October 1 to December 31, 2002 Arby's
reported total United Sates and Canadian systemwide Arby's
sales of approximately $684.4 million and that the average
royalty rate was 3.42% during this period.
o Arby's reported that during the period September 30 to
December 29, 2002, there were 51 Arby's restaurants opened and
16 restaurants closed (generally, under performing
restaurants) in the United States and Canada. As of December
29, 2002, there were 3,250 Arby's restaurants in the United
States and 130 restaurants in Canada.
o Arby's reported that as of December 31, 2002, the annual unit
volume for the preceding twelve months for Arby's U.S. and
Canadian franchisees was approximately $825,000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRIARC COMPANIES, INC.
Date: February 18, 2003 By: /s/ Francis T. McCarron
---------------------------
Francis T. McCarron
Senior Vice President and
Chief Financial Officer