Wendy's to close 140 restaurants by the end of the year

Core Viewpoint - Wendy's is closing 140 underperforming locations by the end of 2024 to enhance its restaurant footprint and overall system health while planning to replace many of these with new, more profitable locations [1][2]. Group 1: Closure and Replacement Strategy - The closures are part of a broader initiative to strengthen the brand and operations, with the company focusing on outdated locations that do not meet sales expectations [1][2]. - Wendy's aims to offset the closures with new restaurant openings, expecting net unit growth to remain flat compared to the previous year, but projecting a significant growth rate of 3% to 4% in 2025 [2][3]. Group 2: Performance and Growth - Over the last two years, Wendy's has opened more than 500 new restaurants and is on track for 250 to 300 openings globally for the full year [3][4]. - The company's revenue for the latest quarter was $566.7 million, reflecting a 2.9% increase from the previous year, surpassing analysts' expectations [4].