Wendy’s is closing hundreds of restaurants – CNN

SOURCE: Jordan Valinsky | CNN

Wendy’s is set to close hundreds of locations across the United States as part of its turnaround plan.

Interim CEO Ken Cook announced Friday that a “mid single-digit percentage” of Wendy’s approximately 6,000 US locations could close, which would amount to around 200 to 350 restaurants.

Affected locations are those that are “consistently underperforming” and dragging down the chain’s overall performance, Cook told analysts. The closures will begin this year and continue through 2026.

“These actions will strengthen the system and enable franchisees to invest more capital and resources in their remaining restaurants,” he said. “Closures of underperforming units are expected to boost sales and profitability at nearby locations.”

A specific list of locations wasn’t announced.

This string of closures comes a year after Wendy’s announced the shuttering of 140 locations, citing similar underperformance issues.

Wendy’s could use a jolt after reporting another downbeat quarter. US same-store sales declined 4.7%, while rivals McDonald’s, Burger King and Shake Shack all posted positive earnings as customers gravitated toward their deals and marketing efforts.

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