{"id":121286,"date":"2024-11-02T17:36:46","date_gmt":"2024-11-02T10:36:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=121286"},"modified":"2024-11-02T17:36:46","modified_gmt":"2024-11-02T10:36:46","slug":"wendys-to-close-140-restaurants-by-the-end-of-the-year","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=121286","title":{"rendered":"Wendy&#8217;s to close 140 restaurants by the end of the year"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<aside class=\"single__inline-module alignleft wp-block-nypost-editor-partner-article-links\">\n<\/aside>\n<p>Fast-food giant Wendy\u2019s is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its \u201crestaurant footprint and overall system health.\u201d\u00a0<\/p>\n<p>To counter the closures, though, the Ohio-based company is working to replace many of these units with \u201cnew restaurants at better locations with significantly improved sales and profitability,\u201d Wendy\u2019s CEO Kirk Tanner told analysts on its third-quarter earnings call.\u00a0<\/p>\n<p>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 \u201coutdated and in underperforming areas,\u201d with operating margins far below the system average, Tanner said.<\/p>\n<p>\u201cI think when you think about strengthening our system, you look at a brand that\u2019s 55 years old and some of those restaurants are just out of date,\u201d Tanner said.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Roughly 140 underperforming locations will close at the end of 2024. <span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>This restaurant footprint optimization is part of a slate of initiatives Wendy\u2019s is deploying to strengthen the brand and its operations across the company and its franchisees.<\/p>\n<p>The company didn\u2019t disclose where the closures will be, but Tanner noted that \u201cit\u2019s not one particular area.\u201d<\/p>\n<p>Wendy\u2019s anticipates the total closures in 2024 to be \u201coffset by new restaurant openings this year, leaving our net unit growth approximately flat compared to the prior year,\u201d Tanner said, adding that the company is confident that it will achieve significant accelerated unit growth rate of 3% to 4% in 2025.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Wendy\u2019s did not reveal which locations would be shutting down. <span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>By the end of 2024, the company said it will have opened more than 500 new restaurants over the last two years.\u00a0<\/p>\n<p>Tanner said it is also \u201cusing data-driven insights to target high-growth trade areas\u201d as it continues to open up new locations.\u00a0<\/p>\n<p>Globally, the company said it\u2019s on track to reach 250 to 300 openings for the full year.<\/p>\n<p>Wendy\u2019s is among a growing number of chains that have been trying to lure customers back in through a slew of promotions.\u00a0<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>Wendy\u2019s opened more than 500 restaurants over the last two years. <span class=\"credit\">Erich Murphy \/ USA TODAY NETWORK<\/span><\/figcaption><\/figure>\n<p>In the prior quarter, Wendy\u2019s said it maintained \u201coverall traffic and dollar share in the [quick service restaurant] burger category.\u201d\u00a0<\/p>\n<p>Its revenue for the quarter came in above analysts\u2019 expectations, notching $566.7 million, a 2.9% increase from a year earlier.\u00a0<\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2024\/11\/02\/business\/wendys-to-close-140-restaurants-by-the-end-of-the-year\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fast-food giant Wendy\u2019s is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its \u201crestaurant footprint and overall system health.\u201d\u00a0 To counter the closures, though, &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=121286\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-121286","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/121286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121286"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/121286\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}