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.
Not surprised. There prices are absurd at this point, and the quality of the food has been going down for years. I used to love there spicy chicken sandwich. But then the quality started to drop. At first it was just a bad sandwich every now and again, but the ratio of good sandwich and bad sandwich slowly got worse until I finally decided I had had enough. Haven’t been back to Wendy’s in about a year at this point. And their fires are decent when fresh, but quickly become worse as they get lose their freshness.