Wendy’s announces brand revitalization plan called Project Fresh

Core Insights - Wendy's has launched Project Fresh, a strategic initiative aimed at revitalizing the brand, driving growth, and enhancing profitability across its system [1][3][4] - The company's board and management are dissatisfied with its current valuation and are focused on creating value for franchisees, employees, and shareholders [2] Project Fresh Overview - Project Fresh is structured around four core pillars: brand revitalization, system optimization, operational excellence, and reallocation of capital and resources to foster profitable growth [3][4] - The initiative aims to redefine Wendy's operations, investments, and customer engagement to create long-term value [3][4] Key Actions Under Project Fresh - Brand revitalization will focus on enhancing brand positioning by leveraging Wendy's innovation and unique voice to connect with the next generation of customers [5] - System optimization will prioritize average-unit-volume growth in the U.S., aiming for industry-leading restaurant performance through resource reallocation, labor optimization, and close partnerships with franchisees [5] - Internationally, capital will continue to be invested to support strong net unit growth [5]