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Will Wendy's meet its updated 2024 same-restaurant sales outlook?
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Wendy's financial reports and earnings calls
Story
Wendy’s to Close 140 Additional Restaurants by Year's End, Plans 250 New Openings
Nov 1, 2024, 05:20 PM
Wendy’s plans to close 140 underperforming and outdated restaurants globally by the end of 2024, in addition to the 100 closures announced in May, as part of a strategy to strengthen the system's overall health. The closures, which include units with average yearly sales of about $1 million and below-average operating margins, will be offset by the opening of approximately 250 to 300 new restaurants in better locations with higher growth potential. CEO Kirk Tanner stated that many of the affected locations are outdated and located in slower-growth areas. The company reported that same-store sales have accelerated significantly in October, giving confidence in achieving its updated 2024 same-restaurant sales outlook.
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