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Wendy's closes US restaurants and focuses on value to turn around falling sales (apnews.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Wendy’s is closing several hundred U.S. restaurants and increasing its focus on value after a weaker-than-expected fourth quarter.

The Dublin, Ohio-based company said Friday that its global same-store sales, or sales at locations open at least a year, fell 10% in the October-December period. That was worse than the 8.5% drop expected by analysts polled by FactSet.

U.S. same-store sales fell even further in the fourth quarter. Wendy’s said late last year that it planned to close underperforming U.S. restaurants, but it gave more details about those closures Friday.

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[–] MehBlah@lemmy.world 6 points 1 day ago (1 children)

Lowering their prices will never occur to them. Many of us have stopped eating out much. Its the cost. The one things they pretend it isn't.

[–] chiliedogg@lemmy.world 2 points 20 hours ago

I've just changed how I eat out.

Fast-casual restaurants cost the same as fast food these days. And if I need food super fast due to time and travel constraints, the quality of gas station food in many chains like QuikTrip and Speedy Stop is better and faster than McDonalds.

So they are no longer the fastest or the cheapest, while their food remains garbage.

Of course they're failing.