Wendys to Close Hundreds of US Stores Amid Declining Revenue: The fast-food giant, Wendys, has announced plans to shut down a significant number of its US locations due to declining revenue and profits, primarily caused by budget cuts from lower-income consumers. The company expects this financial strain to persist through the end of the year. Wendys interim CEO, Ken Cook, revealed that the closures will begin in the fourth quarter, affecting a mid-single-digit percentage of their six thousand eleven US stores, potentially around three hundred locations. The move aims to improve traffic and profitability at remaining stores by eliminating underperforming locations. Wendys and other fast-food chains have been grappling with boosting sales due to rising food costs, which have squeezed lower-income consumers. Despite introducing value meals, Cook does not expect an immediate easing of financial pressure on these households. Wendys reported a four percent drop in US same-store sales and a two percent fall in revenue in the first nine months of this year. The company plans to shift its marketing focus to emphasize value and fresh ingredients to attract new customers.

The Daily News Now! — Every city. Every story. AI-powered.

---

Hosted on Acast. See acast.com/privacy for more information.