Wendy’s is moving ahead with its plans to close hundreds of restaurants, amounting to between 5% and 6% of its total stores in the U.S., according to its fourth-quarter earnings report.
Published on February 13, the report shows that Wendy’s domestic business is lagging behind its international efforts. Total same-store sales fell 10.1% over the quarter, driven by low performance in the U.S., where same-store sales were down 11.3% (compared to 2% at international locations). Overall, global systemwide sales were $3.4 billion, a decrease of 8.3% from the previous quarter.
I'll be damned..... prices double or triple over a few years added to the convenience of "we're out of large cups, out of French fry containers, out of hamburger buns, out of ALL chicken based products, and the frying oil hasn't been changed in months...... how may i help you?" and business drops off. Can't imagine why..... a burger, fry, and Coke for two shouldn't cost as much or more than a steak dinner for two prepared at home. It's FAST FOOD not fine dining. It used to be fast, food (barely), and fairly cheap now it isn't fast or cheap but it's still barely food.
Of course there are the exceptions to the rule...... Wendy and Mickey D introduced "dollar menu" items and Arby's introduced their "second mortgage meal" years ago. I always said I love Arby's but I hate filling out the loan application before you can order!
But..... it isn't JUST fast food that has gotten ridiculously expensive. A couple days ago my wife and I stopped at a sit down restaurant for breakfast. We both had a couple poached eggs over ham and cheese hash brown patties with a modified hollandaise sauce with coffee. Nice place with nice food but nothing spectacular, not 5 star service with a special waiter that only brushes crumbs between courses or anything like that. Just a decent restaurant. After tip the bill was over $80.00..... for breakfast. Our once a week go out for breakfast has now reduced to once every 4 to 6 weeks purely due to the exorbitantly high prices.
It shouldn't be cheaper to buy a boat and go fishing than it is to order the Admirals Feast at dead lobster.
OK, off my soap box and back to my rocking chair on the front porch, to be sure those damn kids stay off of my lawn..... grumbles under breath about gas prices while walking away......