Wendy’s turnaround now extends beyond burger discounts
Wendy’s U.S. same-restaurant sales fell 7.8% in Q1 after an 11.3% drop in Q4, prompting Zacks Research to lower its Q2 earnings forecast to 17 cents per share. Robert Wright took over as CEO on May 21 as the chain closed 164 U.S. stores and faces pressure from activist investor Nelson Peltz. Shares last traded at $7.81 before the Memorial Day market closure.