Wendy’s Stock (WEN) Slips on Store Closure Plans
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BTCCSquare news:
Wendy’s shares tumbled 4.01% Monday after CEO Ken Cook announced plans to shutter approximately 300 underperforming U.S. locations—a mid-single-digit percentage of its nearly 6,000-store footprint. The closures, slated to begin in late 2025, aim to bolster same-store sales as customers consolidate to remaining outlets. Same-store sales declines and broader economic pressures triggered the strategic review.
The fast-food chain’s stock has plummeted 44.91% year-to-date and 52.26% over 12 months. Layoffs are expected, though the scale remains unclear. Some employees may transfer to surviving locations, but hundreds face likely termination. The MOVE mirrors industry-wide contractions as consumer spending patterns shift.
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