Wendy's to close hundreds of US stores next year

Core Viewpoint - Wendy's plans to close hundreds of U.S. stores to address declining sales and improve its domestic business performance [1][3] Group 1: Store Closures and Sales Performance - Wendy's expects to close about 4% to 6% of its 6,011 U.S. restaurants next year, translating to a minimum of 241 store closures [1] - In the latest fiscal quarter, global sales decreased by 2.6%, with U.S. sales falling by 4.7%, primarily due to fewer customer visits, although higher spending per order partially offset this decline [3] Group 2: Strategic Initiatives - The company is focusing on enhancing sales at existing locations rather than expanding its store count, launching Project Fresh to improve performance and profitability [5] - Wendy's is making progress on initiatives aimed at enhancing customer experience, which is starting to show positive results in its company-operated U.S. restaurants [4] Group 3: Industry Context - The quick-service restaurant sector is facing pressure as consumers, particularly lower-income households, adjust their discretionary spending due to rising living costs [8][11] - Many industry players are increasing promotions to attract budget-conscious customers, indicating a potential shift in pricing strategies across the sector [11]