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Wendy’s is closing hundreds of U.S. restaurants as domestic sales slide (www.fastcompany.com)
submitted 9 months ago by to c/business@lemmy.world
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Wendy’s is moving ahead with its plans to close hundreds of restaurants, amounting to between 5% and 6% of its total stores in the U.S., according to its fourth-quarter earnings report.

Published on February 13, the report shows that Wendy’s domestic business is lagging behind its international efforts. Total same-store sales fell 10.1% over the quarter, driven by low performance in the U.S., where same-store sales were down 11.3% (compared to 2% at international locations). Overall, global systemwide sales were $3.4 billion, a decrease of 8.3% from the previous quarter.

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[–] 4 points 9 months ago (1 child)

You’re probably right about fast food not being cheap nor fast anymore, but I don’t think this is the reason sales are down. That would imply

  1. more chains are experiencing the same drop; and
  2. this happened globally too.

Perhaps I misunderstood you, and you meant only Wendy’s and only in USA (or there’s other sources saying sales are down for other vendors and/or other countries).

What are some other reasons sales are down in the US? I’ve heard that the economy is turning K-shaped, and I imagine that’s bad news for fast food chains like Wendy’s, as a minority of rich people can only buy so much food. But this would again mean other chains experience slowdowns. So I’m not really sure

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