The Colorado Springs Gazette final

Wendy’s U.S. sales down as inflation curbs traffic

Reuters

Wendy’s missed Wall Street estimates for quarterly U.S. same-store sales growth on Wednesday, as inflation-hit Americans cut their trips to its diners selling hamburgers and fries that got more expensive in the last few months.

Lower-income households are avoiding discretionary purchases and cooking more at home as prices of everyday essentials surge, which has affected Wendy’s as it was already grappling with rivals Mcdonald’s, KFC and Burger King.

Wendy’s U.S. same-store sales rose 2.3% in the second quarter, below estimates for a 2.8% increase.

“Pre-pandemic about 82% of all meals were consumed at home. During the pandemic, it jumped up to about 85%,” Chief Executive Officer Todd

Penegor said on an earnings call.

To attract more consumers, Wendy’s, like several rivals including bellwether Mcdonald’s and Yum Brands, has recently introduced promotional deals such as its $5 Biggie Bag meal.

BUSINESS

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2022-08-11T07:00:00.0000000Z

2022-08-11T07:00:00.0000000Z

https://daily.gazette.com/article/281964611496043

The Gazette, Colorado Springs