Popular Fast-Food Burger Chain to Close 140 Stores by Year’s End

In the world of fast-food burgers, there is still only one clear champion. The Street reports that McDonald's finished 2023 with over $53 billion in sales. But the fight for the number two spot continues to be close. Finishing second in 2023 with sales of over $12 billion was Wendy's. In third, with total sales of over $10 billion, was Burger King. Despite the solid sales numbers one of these chains is actually closing over 100 locations in 2024.

The Street reports that during its October 31st third quarter earnings call, Wendy's revealed that it will be closing 140 underperforming and out-of-date locations by the ned of the year. The locations that will be shuttered have lower profit margins, generating $1.1 million in revenue or less per year. Wendy's CEO Kirk Tanner said that the closings will strengthen the overall health of the company. Officials say that the closings will offset new restaurant openings resulting in flat net unit growth according to The Street.

Despite the announcement of the stores closing, Wendy's doesn't consider 140 locations to be that many. The Street reports that the company will add nearly 300 new locations globally in 2024.

There are currently 41 Wendy's restaurant locations in Iowa, with five in the city of Cedar Rapids. Wendy's has not announced what locations will be closing in the coming months. The Street reports that the news comes after casual dining chain Denny's announced that it was closing 150 restaurants, 50 by the end of 2024. Only three Denny's locations are left in Iowa, in Clive, Brooklyn, and Davenport.

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