UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) June 3, 2003


                             TRIARC COMPANIES, INC.
               --------------------------------------------------
             (Exact name of registrant as specified in its charter)


     DELAWARE                       1-2207              38-0471180
     ------------                   --------            --------------
    (State or other                (Commission         (I.R.S. Employer
    jurisdiction of                File No.)           Identification No.)
    incorporation of
    organization)

    280 Park Avenue
    New York, New York                                      10017
    ---------------------------                            ----------
    (Address of principal executive office)                (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 7.   Financial Statements, Pro Forma Financial Information and Exhibits

(c)       Exhibits

99.1      Press release of Triarc Companies, Inc. dated June 3, 2003


                                    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.


                                             By:  Brian L. Schorr
                                                  ----------------------
                                                  Brian L. Schorr
                                                  Executive Vice President and
                                                  General Counsel

Dated:   June 3, 2003



                                  EXHIBIT INDEX

Exhibit     Description


99.1        Press release of Triarc Companies, Inc. dated June 3, 2003




                                                           Exhibit 99.1

                                                       For Immediate Release

CONTACT:  Anne A. Tarbell
          (212) 451-3030
          www.triarc.com


               TRIARC EXTENDS $50 MILLION STOCK REPURCHASE PROGRAM


     New York, NY, June 3, 2003 -- Triarc Companies,  Inc. (NYSE: TRY) announced
today  that it has  extended  its  current  $50  million  Class A  Common  Stock
repurchase  program until January 18, 2005 and replenished the amount  available
under the  program to permit  Triarc to  purchase  up to $50  million of Class A
Common Stock  beginning  June 3, 2003.  Under the existing  program,  Triarc has
repurchased  1.5 million  shares at an aggregate  cost of $41.7  million.  These
shares were  repurchased in connection with, and using a portion of the proceeds
of, Triarc's private placement of $175 million of convertible notes completed on
May 19,  2003.  The balance of the net cash  proceeds  from this  financing  was
approximately $127 million.  Today's  replenishment and additional  twelve-month
extension  will allow the Company to continue  repurchasing  Class A shares when
and if market conditions warrant and to the extent legally permissible.

     Commenting on the share repurchase program, Nelson Peltz, Triarc's Chairman
and Chief  Executive  Officer,  said:  "We  continue to  carefully  evaluate our
options  for the use of  Triarc's  significant  cash  and  investment  position.
Adjusting  March 30, 2003 cash, cash  equivalents and short-term  investments of
approximately $625 million to reflect the recent convertible debt sale and share
repurchase,  we  would  have  had  approximately  $750  million  in  cash,  cash
equivalents  and  short-term   investments.   Today's  extension  of  our  share
repurchase  program will allow us to repurchase  additional  Triarc shares going
forward. Our goal is to continue to create value for our shareholders."

     Since 1998, Triarc has repurchased approximately $340 million of its common
stock,   including   approximately   9.9  million  Class  A  common  shares  for
approximately  $213 million and all of the then  outstanding  approximately  6.0
million Class B common shares for approximately $127 million.

     Triarc is a holding company and through its subsidiaries, the franchisor of
the  Arby's(R)  restaurant  system and an operator of  approximately  240 Arby's
restaurants located in the United States.

                                      # # #

                                 Note to Follow


                                      Note

     There can be no assurance  that any share  repurchases  will be made in the
future or that any such repurchases will result in additional shareholder value.