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Wendy’s is closing more than 100 stores nationwide. Here’s why

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Wendy’s is closing more than 100 stores nationwide. Here’s why

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This week, Wendy’s It will close 140 more underperforming restaurants to open new storefronts in high-performing locations, executives announced in a company earnings call.

“The company plans to replace these facilities with more profitable locations with average unit volumes of $2 million and above,” Wendy’s spokeswoman Heidi Schauer said. confirmed to USA TODAY. “Approximately 250 to 300 new Wendy’s locations were expected to open in 2024.”

Here’s what you need to know about Wendy’s closures in Florida.

Will Wendy go bankrupt? Why is Wendy’s closing stores?

Wendy’s isn’t closing and is actually in the middle of a “SpongeBob”-themed promotion and is already Further promotions are planned for next year.

According to Wendy’s CEO Kirk Tanner, Wendy’s “conducted a robust review of individual restaurants to ensure they are meeting our sales expectations, have the profitability to fuel growth, and deliver the Wendy’s brand experience to customers.

“Overall, Wendy’s system is incredibly healthy,” Tanner said during the company’s earnings release.

Wendy’s isn’t closing all its stores, only those located in outdated or underperforming areas.

“When you think about strengthening our system, you’re looking at a 55-year-old brand, and some of these restaurants are just out of date.” Tanner said during the interview.

He also said the company has opened nearly 500 locations in the past two years.

More from Wendy’s earnings call: Here’s what CEO Kirk Tanner said

How many Wendy’s are there in California?

According to Wendy’s directory of locations, Currently 299 locations in California. Yes 6,010 locations in the US and 1,156 international, for a total of 7,166 locations worldwide.

Wendy’s has not announced which stores will close

“Administrators have not confirmed which sites will be shut down,” USA TODAY reported. “But those closures will spread geographically, both in the U.S. and globally.”

Is Wendy still successful?

Yes, Wendy’s is still successful. The company’s revenues increased by approximately $16 million this year, but its net income for the third fiscal quarter of 2024 was approximately $8 million less than for the third quarter of 2023.

“Tanner said the chain aims to grow through its new locations and offerings, including the recently launched limited-time Krabby Patty Meal and Pineapple Under the Sea Frosty,” USA TODAY reported.

“Executives also said the company is pivoting to its partnership with Coca-Cola Freestyle through its current $1 promotional beverage deal.”

How long will the Krabby Patty meal be available?

To celebrate the 25th anniversary of “Spongebob Squarepants” in October, Wendy’s partnered with Paramount to launch a special, limited-time Krabby Patty Meal and pineapple-flavored popsicle in honor of the only sponge that lives in a pineapple under the sea.

Although Wendy’s hasn’t said exactly when the offer will end, there probably isn’t much time left. A spokesperson told USA TODAY: The Krabby Patty Kollab meal “will be available at Wendy’s restaurants by early November,” he said.

Contributors: Anthony RobledoUSA TODAY

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