Wendy's to close 140 restaurants by the end of the year [FOX Business Network]
Wendy's Company (The) (WEN)
Last wendy's company (the) earnings: 2/26 07:00 am
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Source: FOX Business Network
Fast-food giant Wendy's is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its "restaurant footprint and overall system health." To counter the closures, though, the Ohio-based company is working to replace many of these units with "new restaurants at better locations with significantly improved sales and profitability," Wendy's CEO Kirk Tanner told analysts on its third-quarter earnings call. The company thoroughly reviewed individual restaurants to ensure they meet sales expectations and are profitable enough to support growth, and said that the locations closing are "outdated and in underperforming areas," with operating margins far below the system average, Tanner said. "I think when you think about strengthening our system, you look at a brand that's 55 years old and some of those restaurants are just out of date," Tanner said. This restaurant footprint optimization is part of a slate of initiatives Wendy's is deploying to strength
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WEN
News
- Wendy's to close 140 underperforming restaurants, open similar number as year ends [Yahoo! Finance]Yahoo! Finance
- The Wendy's Company (NASDAQ: WEN) had its price target raised by analysts at BMO Capital Markets from $19.00 to $20.00. They now have a "market perform" rating on the stock.MarketBeat
- Wendy's Q3 Earnings Match Estimates, Revenues Up Year Over Year [Yahoo! Finance]Yahoo! Finance
- The Wendy's Company (NASDAQ: WEN) had its price target raised by analysts at Truist Financial Co. from $21.00 to $22.00. They now have a "buy" rating on the stock.MarketBeat
- The Wendy's Company (NASDAQ: WEN) had its "neutral" rating re-affirmed by analysts at Wedbush. They now have a $20.00 price target on the stock.MarketBeat
WEN
Earnings
- 10/31/24 - In-Line
WEN
Sec Filings
- 10/31/24 - Form 10-Q
- 10/31/24 - Form 8-K
- 10/7/24 - Form 4
- WEN's page on the SEC website