Thicker bacon and ditching breakfast. Wendy’s hopes a menu shakeup can revive sales

Key Points:

• Wendy’s reported its seventh consecutive quarter of declining same-store sales in the US, falling 5.7% in Q3, trailing behind rivals McDonald’s and Burger King, amid challenges like higher beef prices and reduced dining out.
• The company unveiled a multi-year turnaround plan called “Dave’s Way,” focusing on food improvements, refreshed menu items in 2027, enhanced marketing, and expanded delivery to boost customer traffic and profitability.
• Wendy’s board unanimously rejected a $1.4 billion takeover offer from investors including former chairman Nelson Peltz, stating the offer undervalues the company and expressing confidence in CEO Bob Wright’s leadership.
• The chain has closed nearly 300 underperforming US locations recently and is making breakfast optional for franchisees, with some locations dropping it to improve overall restaurant economics and focus on core menu items.
• New CEO Bob Wright, appointed in May, aims to restore Wendy’s value proposition and franchisee economics, emphasizing strong execution and franchisee support as key to the turnaround, despite past struggles and a major franchisee’s bankruptcy linked to Wendy’s sales decline.