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 Wendy's CEO Kirk Tanner said he has made a "strategic decision to close additional restaurants this year that are outdated and located in underperforming trade areas.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
- The Wendy's Company (NASDAQ: WEN) had its "equal weight" rating re-affirmed by analysts at Stephens. They now have a $19.00 price target on the stock.MarketBeat
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- As Temperatures Drop Wendy's Spices Up Holiday Meal Planning with $3.99 Spicy Chicken Sandwich In-App Offer [Yahoo! Finance]Yahoo! Finance
- As Temperatures Drop Wendy's Spices Up Holiday Meal Planning with $3.99 Spicy Chicken Sandwich In-App OfferPR Newswire
- Is Wendy's (WEN) The Best Fast Food Stock To Invest In Right Now? [Yahoo! Finance]Yahoo! Finance
WEN
Earnings
- 10/31/24 - In-Line
WEN
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form SC
- 11/8/24 - Form 4
- WEN's page on the SEC website