Economics

1068 readers

34 users here now

founded 2 years ago

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

submitted 2 days ago by MicroWave@lemmy.world to c/economics@lemmy.world

37 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] chiliedogg@lemmy.world 2 points 1 day 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.