Wendy’s plans to close hundreds of U.S. restaurants in the coming months as revenue and profits decline, with the company citing cutbacks by lower-income consumers that it expects will persist through year’s end. On a Friday investor call, Ken Cook, Wendy’s interim CEO, didn’t disclose the exact number or locations of restaurants that it plans…
The most important meal of the day is also shaping up to be the most skipped meal of the day, at least according to two of the country’s largest fast-food chains. McDonald’s and Wendy’s last week, during their respective earnings calls, said they’re seeing sluggish breakfast sales. The companies attributed the trend to heightened economic…
Wendy’s cut its sales outlook Friday, pointing to heightened competition and economic uncertainty weighing on its customer base. Company executives discussed Wendy’s challenges during a call with analysts Friday, following the release of its latest earnings report. Interim CEO Ken Cook said that in light of the current environment, the company now expects full-year global…