Wendy's on Thursday announced measures to support its franchisees and its own liquidity as the coronavirus pandemic drives down its same-store sales by 20%.
Wendy's same-store sales have plunged 20% in the week ended March 22.Wendy's is also supporting franchisees by deferring royalties and payments to the marketing funds.
The Dublin, Ohio-based company has also withdrawn its 2020 forecast, as well its long-term outlook for 2021 to 2024. The company previously expected to earn between 60 cents and 62 cents per share, on an adjusted basis, in fiscal 2020 on sales in a range of $12 billion to $12.5 billion. Between 2021 to 2014, Wendy's annual global system-wide sales were expected to grow by 4% to 5%.
The burger chain launched its breakfast nationwide on March 2. That week, breakfast sales rose about 15%. Citing the launch's strong early performance, the company intends to stop advertising that is only focused on breakfast and instead support franchisees in other ways. Wendy's was originally planning on spending between $70 million to $80 million in 2020 promoting the breakfast menu.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Trump faces crucial test at the G-20 meeting as world leaders meet to battle coronavirusAs the White House scrambles to shore up support for its coronavirus strategy at home amid a spike in new cases, criticism has been mounting overseas about the administration's approach.
Leer más »
20 of the Best Children’s Books for Uncertain TimesThese books act as punctuation: What’s the final thought, final feeling before you turn out the lights?
Leer más »
20 of the Best On-Screen Love Triangles of All TimeThese steamy romances had us wanting more.
Leer más »
20 Times Prince George Was the Cutest World TravelerPrince George has taken so many trips, even as a child.
Leer más »
20-Somethings Now Realizing That They Can Get Coronavirus, TooNEW YORK -- Marissa Crider set up strict house rules after recently taking in a third roommate in her apartment in Queens.First, she told her new roommate -- who had fled his apartment because he feared getting the coronavirus from one of his five other housemates -- that he could not see friends in
Leer más »