Wendy's has announced the closure of 140 outdated stores in underperforming areas this year, aiming for strategic, faster expansion after the closures.
CEO Kirk Tanner explained that annual sales and profit margins of the closing locations are significantly below the company averages, indicating a need for change.
The redesign nearly complete at 90% of locations focuses on new technology and drive-thru improvements that enhance efficiency and boost customer satisfaction.
Tanner further elaborated that this initiative is designed to ensure that over time, many of the closed units will be replaced by new, more profitable locations.
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