COLUMBUS, Ohio (WCMH) -- Wendy's, headquartered locally in Dublin, may end up closing hundreds of locations through the end of the year and into 2026.
Interim CEO Ken Cook said on an investor call Friday that the fast-food chain would be working with franchisees to improve profitability, which includes identifying underperforming stores and making changes at those locations, including possible closures.
Cook said he estimates a "mid-single-digit percentage" of U.S. locations would be impacted by closures. Wendy's has more than 5,800 locations nationwide, which means there could be between 150 and 300 store closures.
"When we look at the system today, we have some restaurants that do not elevate the brand and are a drag from a franchisee financial performance perspective," Cook said. "The goal is to address and fix those restaurants."
The company will, in some cases, consider implementing operational improvements or deploying additional technology and equipment at the underperforming stores.
"In other cases, it'll mean transferring those restaurants to a different operator who's better suited to be successful in that restaurant," Cook said. "In other cases, we ultimately will close that restaurant, which will put money back in franchisees' pockets and enable them to reinvest both capital and resources in their remaining restaurants."
He expects to have further updates on the next quarterly earnings call.
Cook said some stores could close before the end of this year. He said that company-owned stores are outperforming the system, but sales remain under pressure in the U.S.
"We do see more pressure on the lower income consumer," he said, adding that the $8 junior bacon cheeseburger combo has helped return customers, but hasn't attracted new customers as much as hoped.
However, Cook said that stores have seen lower employee turnover, and digital and delivery saw declines in cancellation rates, missing items and refunds. The company is testing additional changes in those spaces.
The company also introduced chicken tenders and six new sauces at the start of the fourth quarter, something Cook said has been successful. He noted that demand for the tenders has been strong and some locations quickly ran out.
Some customers, however, were not as sold on the new sauce options, with many fans taking to the internet to express disappointment that the chain discontinued its sweet and sour sauce. Watch related video in the player above.
The company opened more than 170 new restaurants globally through the first three quarters and plans to continue expanding internationally, including in Canada and the United Kingdom.
COLUMBUS, Ohio (WCMH) -- A man died Thursday night, days after he was stabbed in South Linden, authorities said.
Charles Haynes, 62, was found unresponsive Oct. 29 in the 900 block of East 20th Avenue with a stab wound to the chest, according to an affidavit.
Haynes was taken to a hospital in critical condition. At the time, doctors said Haynes likely wouldn't survive his injuries, according to the affidavit.
Sasha I. Townsend, 35, was initially arrested and charged with felonious assault. Additional charges are now pending, according to police.
Townsend allegedly gave police different stories about what happened. She was heard on an audio recording from a nearby home saying "I asked you to stop," according to the affidavit. A search of the home reportedly found knives in a kitchen sink "as if they were just being cleaned" and blood.
A Franklin County Municipal Court judge issued Townsend a $350,000 bond on the felonious assault charge on Oct. 31. A preliminary hearing was scheduled for 9 a.m. Friday.
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