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Shares of Wendy’s Co. slumped toward a five-year low Friday, after the fast-food burger chain reported a drop in a key quarterly sales metric for the first time since the height of the COVID pandemic, as struggling U.S. consumers cut back on restaurant visits.
The decline in same-restaurant sales, which are sales of restaurants open at least 15 months, also hurt profitability of Ohio-based Wendy’s
WEN U.S. business, as did higher costs for commodity products and worker pay, which was partially offset by a higher average check.
This post was originally published on Market Watch
