Wendy’s to Close Hundreds of Stores as Consumers Cut Restaurant Spending

Wendy's said it would close hundreds of locations through next year as consumers continue to pull back on spending at restaurants.

Interim Chief Executive Ken Cook said on the company's earnings call that it would close a midsingle-digit percentage of its U.S. restaurants beginning this year and continuing into next year. Wendy's has roughly 6,000 restaurants in the U.S.

"We have some restaurants that do not elevate the brand and are a drag from a franchisee financial-performance perspective. The goal is to address and...

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