Wendy's closed 289 US locations during the first half of the year, a detail buried inside its brutal second quarter earnings call last week. The company has about 5,700 US restaurants and posted six straight quarters of same-store sales declines, with US same-restaurant sales crashing 7% in the second quarter versus a 2.3% drop a year earlier. Adjusted operating profits tanked 13.2% year over year, and the stock has fallen 65% over the past five years. CEO Bob Wright acknowledged franchisee health is pressured by sales declines and said the company will take a more targeted approach to closures. Billionaire investor Nelson Peltz is reportedly nearing a buyout deal for the ailing chain.
The Wendy’s CoUS same-restaurant sales declined 7% in Q2, marking six straight quarters of declines
Chipotle Mexican Grill Inc
McDonald’s Corporation
Restaurant Brands International Inc
Starbucks Corporation