Consumer
Wendy’s Cuts Sales Guidance as US Diner Traffic Declines
- Burger chain says drop in visits came amid higher prices
- Fast-food companies are contending with an industry slowdown
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Wendy’s Co. trimmed its annual sales guidance following a retreat from US customers in the second quarter, the latest sign that inflation-battered diners are cutting out burger outings.
Overall sales should increase between 3% and 5% this year, the company said Thursday, down from an earlier forecast of as much as 6%. In the second quarter, sales at locations open at least 15 months grew slower than analysts expected. Revenue also fell short.