Dublin, Ohio (The beginning of the Columbus business) – Wendy’s breakfast continues to connect with consumers.
Since the launch of the nationwide menu in March 2020, the Dublin-based restaurant company has grown by 7.5% in recent quarters and has moved up from the fastest-growing burger chain to the top three in the breakfast market.
“Our perception is the same as Burger King’s and they’ve been having breakfast for a long time,” CEO Todd Penegor told a conference call on Wednesday morning.
Wendy’s (NASDAQ: WEN) is the second-fastest burger chain. For sale in the United States And the restaurant is the third largest, so with breakfast nationwide, it may be possible to split those top three. But it started 20 months ago with no share. The company has a few restaurants offering breakfast from the last ten years.
The company cited market researcher NPD / Crest for that market share.
Penegor said frequent visits will continue to be strengthened and the product is at a high level of quality. Awareness remains the biggest pressure. Additional costs go to advertising.
By 2021, the company expects breakfast sales to grow by 20% and 30% by 2020. Similar: Restaurant sales rose 3.3% worldwide and 2.1% in the United States, a two-year trend of 9.4%.
Penegor announced that the company had grown or continued its market share for nine consecutive quarters.
Other key initiatives, including digital sales and global growth, continue, with eight restaurants now accounting for 8.5 per cent of total sales and a successful global market in the UK market.
Penegor also said that two-thirds of the international area had returned to pre-Kovid performance and that there were no covide-related closures in the global footprint.
Costs are increasing, however, which is squeezing margins.
And finding new employees remains a challenge for Wendy Mostly in the restaurant industryWhatever the size. Labor costs increased by 9.5% in the quarter, and the company is still not at the level it needs.
“There is no clear (geographical) design,” says Penegor. “There are good pockets and bad pockets.”
He said he saw an increase in applications and that the company would continue to invest more in staff, benefits and employee recognition programs.
They are complete results. It is here..
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