WENDY’S is making moves to grow its restaurant footprint in the coming years.
The fast food chain has been making several changes this year, and now CEO Kirk Tanner has revealed an ambitious growth plan.
GettyWendy’s is opening at least 1,000 new locations (stock image)[/caption] GettyCEO Kirk Tanner (pictured) confirmed the plan earlier this month[/caption]Tanner explained during Wendy’s Investor Day presentation recently that it has an outlook of 1,000 additional restaurants globally by the time 2028 is over.
Assuming that happens, it would bring Wendy’s total restaurant count to between 8,100 and 8,300.
Along with the extra locations, Tanner said the company expects to bring in system sales of around $18 billion.
To do that, Wendy’s sales growth rate would have to double from its two to three percent current global sales growth rate, per TipRanks.
Not only did Tanner issue confidence in Wendy’s “potential” at Investor Day along with detailing the expansion plans, but he even teased more menu item collaborations and an overhaul of more “fresh ingredients” for customers.
“The Wendy’s brand has tremendous strength, and we will unlock its full potential, scaling our system to match the power of the brand,” the CEO noted.
He added that there would be “upcoming innovation and collaborations that will build on our high-quality menu with fresh ingredients.”
“Our relentless pursuit of excellence in our food and our restaurants will position Wendy’s for long-term success as we win across our global markets,” Tanner added.
Wendy’s CFO Ken Cook also added that the chain’s objective remained to “create value for our customers, our franchisees and our shareholders.”
CLOSING TIME
Tanner’s comments also come not long after he confirmed in October that 140 Wendy’s locations would close.
Last year, at least 111 shutdown nationwide, at least 78 of which were franchised, per a filing with the United States Securities and Exchange Commission.
The CEO noted that the shuttered restaurants were “outdated” and “poor-performing” during an earnings call in 2024.
He also emphasized that the closures would result in a better economic forecast for Wendy’s moving into 2025 and now beyond with the expansion plans for 2028.
At least 250 to 300 of the 1,000 new restaurants are to open this year.
The Wendy’s brand has tremendous strength, and we will unlock its full potential, scaling our system to match the power of the brand.
Kirk TannerCEO of Wendy'sMore than 500 have been opened since 2022, according to Tanner.
TECH’D OUT
Wendy’s has also been diving head-first into innovation as promised.
It recently confirmed tests at select locations of artificial intelligence in the drive-thru called FreshAI chatbots.
The chain wants to “reimagine” restaurant ordering through the move and confirmed in an exclusive statement to The U.S. Sun that the AI was resulting in “service 22 seconds faster than the local market average.”
FreshAI also had a 99% success rate on orders.
Around 100 locations now use the tech, but Wendy’s told The U.S. Sun that the AI chatbot is an “assistant – not a replacement” for human beings.
There are actually at least three drive-thru changes worth $53 million coming to Wendy’s.
Two new Frosty flavors are also being permanently added to the menu.
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