Economics

1077 readers

18 users here now

founded 2 years ago

119

Wendy's closes US restaurants and focuses on value to turn around falling sales (apnews.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

39 comments fedilink hide all child comments

Wendy’s is closing several hundred U.S. restaurants and increasing its focus on value after a weaker-than-expected fourth quarter.

The Dublin, Ohio-based company said Friday that its global same-store sales, or sales at locations open at least a year, fell 10% in the October-December period. That was worse than the 8.5% drop expected by analysts polled by FactSet.

U.S. same-store sales fell even further in the fourth quarter. Wendy’s said late last year that it planned to close underperforming U.S. restaurants, but it gave more details about those closures Friday.

you are viewing a single comment's thread
view the rest of the comments

[–] melsaskca@lemmy.ca 9 points 1 week ago (1 children)

Hopefully this will start a trend where businesses try again to win their customers loyalty, not force them into a corner.

[–] TankovayaDiviziya@lemmy.world 6 points 1 week ago

The only loyalty that matters to businesses is shareholder value.