Wendy’s becomes latest fast food joint to close hundreds of locations
Another fast food chain plans to close hundreds of locations across US
- Fast-food giant Wendy's is undertaking a significant restructuring, including the closure of hundreds of its US restaurants.
- The company plans to shut between 5 per cent and 6 per cent of its US outlets, equating to 298 to 358 locations, in the first half of this year.
- This strategic shift follows a disappointing fourth-quarter performance, with global same-store sales plummeting by 10 per cent.
- Wendy's aims to attract 'inflation-weary customers' by intensifying its focus on value deals, such as the new permanent 'Biggie Deals' menu.
- Despite challenges, the company projects global systemwide sales to remain flat this year, and its shares rose by nearly 5 per cent following the announcement.
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