Whether you choose to begin your day with a Frosty Cream Cold Brew or to indulge in a Baconator cheeseburger for supper, there is a potential that you may have to go a little farther in order to get the things on the Wendy’s menu that you are craving. During the earnings call for the third quarter that took place a month ago, Wendy’s said that it intends to shut more than one hundred of its stores.
In the results call, Wendy’s President and Chief Executive Officer Kirk Tanner said that the firm would be “doubling down on operational excellence” in the coming months. Tanner made this statement. A decision has been made “to close additional restaurants in 2017 that are outdated and located in underperforming trade areas.” This decision is a component of the chain’s aim to guarantee that consumers enjoy the same level of experience at each and every Wendy’s restaurant.
140 locations of Wendy’s will be shut down
As stated on the call, Wendy’s intends to shutter 140 sites around the country by the end of the year in order to create place for newer restaurants that are located “at better locations with substantially higher sales and profitability.” The fast food business intends to establish between 250 and 300 additional stores in addition to the closures that have already been announced.
According to Tanner, “We anticipate that new restaurant openings this year will almost completely offset the total closures that will occur in 2024, including additional closures that will occur in the fourth quarter.” This will result in our net unit growth being nearly the same as it was in the previous year. We have the confidence that we will produce an increased growth in 2025 and the years to follow, and by the end of 2024, we will have established more than 500 new restaurants over the course of the previous two years.
Tanner said that Wendy’s is seeing growth and witnessing appeal in its new menu items, such as the Krabby Patty Kollab Burger, which was inspired by SpongeBob, and the Pineapple Under the Sea Frosty. In point of fact, Tanner said that Wendy’s would continue to introduce new and returning menu items over the course of the next several months. These plans include the introduction of a fresh new salted caramel Frosty flavor as well as the return of a customer favorite, the Mushroom Bacon Cheeseburger.
There has been no announcement made by Wendy’s on which locations would be impacted by the shutdown.
These alterations to the Wendy’s environment are a part of a mosaic of adjustments and closures that have also occurred at other restaurants. TGI Fridays made the announcement earlier this year that it intended to shut roughly forty of its restaurants throughout the United States owing to poor performance, while Pizza Hut has been decreasing the number of outlets it operates since the year 2020.
Wendy’s is comprised of over 7,000 restaurants throughout the globe. The company was established in 1969. Tanner said that the fast food chain’s primary objective is to ensure the enjoyment of its customers, regardless of any intentions to close the business. “As we look to the future, our primary objective is to continue to cultivate a love for Wendy’s by delivering on our new brand promise, which is to provide you with fresh, famous food that is prepared specifically for you at every restaurant, on every day, for every customer.”