The Wendy’s Company announced quarterly earnings on November 7, which included plans to begin closing U.S. locations in the fourth quarter of 2025. The company stated it is targeting a “mid-single-digit percentage” of its stores but did not specify a precise percentage. Currently, there are 5,880 Wendy’s locations nationwide, implying closures could affect between 235 and 353 locations.
In Jefferson County, 14 Wendy’s locations are present, with five being franchises, which is significantly lower than the 95% franchise average across the country.
For the quarter, Wendy’s reported global systemwide sales of $3.5 billion, down 2.6% compared to the previous year. International sales, however, grew by 8.6% across all regions. The company opened 54 new restaurants, totaling 172 additions for the third quarter.
Net income was reported at $44.3 million, and adjusted EBITDA increased by 2.1% to $138.0 million. The reported diluted earnings per share was $0.23, while adjusted earnings per share declined 4.0% to $0.24. The company returned $40.7 million to shareholders through dividends and share repurchases and increased its free cash flow outlook by $35 million at the midpoint of the expected range.
Source: Press Release