Wendy’s Plans to Close Hundreds of Restaurants
Wendy’s has announced plans to close a significant number of its restaurants in the United States.
Details of the Closures
The interim CEO revealed that approximately 200 to 350 locations out of the chain’s 6,000 U.S. outlets will be shut down. These closures target “consistently underperforming” restaurants that negatively impact the overall business.
Timeline and Previous Actions
The closures are set to begin soon and will continue through next year. This move follows last year’s decision to close 140 restaurants for similar reasons.
Financial Context
Wendy’s recent quarter showed a nearly 5% decline in sales, while competitors like McDonald’s and Burger King reported positive earnings during the same period.
The interim CEO stated these closures involve locations “consistently underperforming” and affecting the chain’s overall performance.
Author’s summary: Wendy’s is closing hundreds of underperforming U.S. locations to reverse a sales decline, continuing its efforts after last year’s restaurant closures.