Wendy's to close 140 underperforming restaurants, open similar number as year ends [Yahoo! Finance]
Wendy's Company (The) (WEN)
Last wendy's company (the) earnings: 2/26 07:00 am
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Source: Yahoo! Finance
Wendy's Company Chief Financial Officer Gunther Plosch told reporters during an earnings call on Thursday the closures will help the $4 billion fast food provider reach its goal of "significantly accelerated unit growth rate of 3% to 4%" for next year and beyond. "The additional closures are about 140 additional units," Plosch said. "So, basically, we are closing overall as many units as we are opening. That's why we are ending up overall slightly flat [for 2024]." Wendy's CEO Kirk Tanner said he has made a "strategic decision to close additional restaurants this year that are outdated and located in underperforming trade areas. These restaurants have [average unit volumes] of approximately $1.1 million and operating margins well below the system average." He added that by the end of the year, Wendy's will have opened more than 500 new restaurants over the preceding 24 months remains on pace to "deliver an elevated growth in 2025 and the years to come." "As we shared last qua
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WEN
News
- Wendy's to close 140 restaurants by the end of the year [FOX Business Network]FOX Business Network
- 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