Wendy’s new CEO on Wednesday laid out his action plan for re-energizing the fast-food chain against the backdrop of a quarterly loss driven by costs related to the recent sale of Arby’s.
Emil Brolick, who joined Wendy’s as CEO less than two months ago, said in a call with analysts that he was focused on beating a relatively new crop of competitors of “fast-casual” brands like Five Guys and Smashburger. He gave more details on the company’s push to offer breakfast nationwide, something that virtually all of its major fast-food rivals already do. He also outlined plans to expand into international markets like Japan and Russia.
Restaurants of all price ranges are facing the double challenge of higher costs for ingredients and customers who are wary of spending on eating out in the weak U.S. economy. Most fast-food chains are playing catch-up to the much larger McDonald’s Corp., which has fared well throughout the recession and its aftermath by emphasizing low prices, remodeling restaurants and adding products like smoothies and fancy coffee drinks.