Wendy’s shares rose 3.8% after the earnings release, with investors likely responding to sequential improvement in U.S. same-restaurant sales and management’s early turnaround actions. Still, U.S. sales remained sharply negative, and global systemwide sales fell 5.9%.
- Total revenue was approximately flat, down 0.5%; global systemwide sales decreased 5.9%.
- U.S. same-restaurant sales declined 5.7%, improving 130 basis points sequentially from Q2. Management said traffic improved through each period of the quarter.
- International systemwide sales grew 3.5%, with 30 restaurants opened in the quarter and 84 opened year to date through Q3.
- Net U.S. restaurant count fell by 13 in the quarter as closures slowed.
- Management outlined its Dave’s Way strategy, including menu work, changes to marketing and operations, broader delivery initiatives, and actions to strengthen franchisee economics.
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