Wendy's will close more than 100 "underperforming" restaurants by the end of 2024, officials announced during an earnings call Thursday.
The announcement comes as popular fast-food chains like Wendy's, McDonald's and Burger King work to earn customers back through value meal deals and discounts.
The closures were based on a "robust review" of individual restaurants, Wendy's President and Chief Executive Officer Kirk Tanner said. Tanner went on to say that the restaurant closures are outdated and in "underperforming areas."
According to Tanner, the closures, which amount to approximately 140 restaurants, were accelerated. Wendy's did not immediately provide details on the locations of stores expected to close.
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"These are closures that would have happened in '25, '26 and '27," officials said during the call, adding that the same number of stores were expected to open by the end of the year.
Despite the closures, Wendy's said it has opened more than 500 restaurants nationwide over the past two years, and that the chain has "the confidence it will deliver elevated growth in 2025 and the years to come," a spokesperson said.
The chain also announced new menu offerings on the call, including a new Salted Caramel Frosty, and the "return of the customer-favorite Mushroom Bacon Cheeseburger."
Earlier this year, Wendy's launched "Krabby Patties" on menus as part of a SpongeBob SquarePants collaboration.
