US EditionPublished • loading... • Updated
Wendy’s is closing hundreds of restaurants
- On Nov. 7, Wendy's, the Dublin, Ohio-based chain, said a mid-single-digit percentage of its U.S. stores will close starting in the fourth quarter of this year and continue into next year.
- Executives told investors that falling sales and outdated locations prompted Wendy's to act after U.S. same-store sales fell 5% in July-September and many 55-year-old restaurants lagged traffic and profitability.
- Wendy's ended the third quarter with 6,011 U.S. restaurants, implying about 200 to 350 locations may close as the company plans upgrades, transfers, or closures, adding to 240 closures in 2024.
- Investors pushed Wendy's shares lower after the announcement Friday, with shares dropping 7% Friday and down 6% in Monday afternoon trading as planned closures may affect franchisees.
- Ken Cook, interim CEO, said Wendy's will shift marketing to value and freshness while downsizing U.S. locations as part of broader restructuring, the company said.
Insights by Ground AI
131 Articles
131 Articles
Black America WebReposted by 
wibc.com
wibc.comWendy’s to Close Hundreds of Restaurants Amid Restructuring Efforts
Source: NurPhoto / Getty Wendy’s to Close Hundreds of Restaurants Amid Restructuring Efforts Wendy’s has announced plans to close between 200 and 350 underperforming locations across the United States as part of a broader restructuring strategy. The closures, which represent a “mid single-digit percentage” of the chain’s approximately 6,000 U.S. restaurants, will begin in late 2025 and continue through 2026. Interim CEO Ken Cook explained that t…
Coverage Details
Total News Sources131
Leaning Left16Leaning Right9Center84Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
15%
C 77%
Factuality
To view factuality data please Upgrade to Premium
