Wendy's is investing $20 million to serve breakfast nationwide by next year:
Wendy's Co. WEN, -1.92% said late Monday it will offer its breakfast menu nationwide starting next year, at a cost of about $20 million. Frosty-ccinos, Breakfast Baconators, and other breakfast items are already served in more than 300 Wendy's locations, but expanding the menu across the U.S. "provides incredible growth opportunities" for the company, Chief Executive Todd Penegor said in a statement.
The company also disclosed it expects to make one-time investments around $20 million this year to support the launch. The company has removed its 2020 outlook as it intends to update it and provide additional long-term guidance at its investor day on Oct. 11. For 2019, the company said it expects adjusted earnings to be flat to down 2% and adjusted EPS down 3.5% to 6.5% as a result of the breakfast investment. Wendy's shares fell 0.
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