CEO cites ‘challenging global business environment’ as reason for decreased earnings.

Ratings agency doesn’t expect certain key brands to grow sales without discounting or innovation.

The impact of the restatements is less than 1% to previously reported net income.

James Vincent joins the company from Wayne Farms.

Cuts to general and administrative expenses have hurt franchisee profitability, group said.

Sales climbed higher despite oversupply and pricing headwinds.