FINWIRES · TerminalLIVE
FINWIRES

$WEN

13 stories mentioning WEN

Every FINWIRES story that references WEN, newest first.

Wendy's Names Industry Veteran Robert Wright as Chief Executive
Wire

Wendy's Names Industry Veteran Robert Wright as Chief Executive

Wendy's (WEN) said Wednesday it appointed quick-service restaurant industry veteran Robert Wright as chief executive, marking his return to the fast food chain.Wright, who will assume the CEO and president roles effective Thursday, will also join the company's board.Wright most recently served as CEO and president of Potbelly. Previously, he served as chief operations officer at Wendy's and held leadership positions at Domino's Pizza (DPZ), Charleys Philly Steaks, and Checkers Drive-In Restaurants.Wendy's interim CEO Ken Cook will continue as chief financial officer as part of the transition, the company said.Cook took on the interim CEO role after former CEO Kirk Tanner left the company in July to assume the CEO and president positions at chocolate maker Hershey (HSY).Wendy's shares were down 3.3% in Wednesday late-afternoon trade. So far this year, the stock has lost 5.8% in value.Last week, London's Financial Times reported that activist investor Nelson Peltz's Trian Fund Management was looking to take Wendy's private. Trian is already the fast food chain's largest shareholder, according to that report.Earlier this month, Wendy's reiterated its full-year outlook after its fiscal first-quarter revenue unexpectedly increased year over year.Price: $7.87, Change: $-0.25, Percent Change: -3.14%

$WEN
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

$EBAY$GME$SE$UAA$WEN
Sectors

Sector Update: Consumer Stocks Mixed Tuesday Afternoon

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.In sector news, Redbook US same-store sales rose by 9.6% from a year earlier in the week ended May 9 after a 7.8% year-over-year increase in the previous week. Redbook noted higher sales of seasonal products including clothing, footwear and outdoor goods due to rising temperature and graduation sales.In corporate news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares were down 0.7%, and EBay rose 1.1%.Wendy's (WEN) shares jumped 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) on Tuesday reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. Its shares climbed 13%.

$EBAY$GME$SE$WEN
Wire

Top Midday Stories: April CPI Rises 3.8% YoY, Highest Level Since May 2023; EBay Board Rejects GameStop's Acquisition Proposal

All three major US stock indexes were down in late-morning trading after April inflation data came in hotter than expected.The US seasonally adjusted consumer price index rose by 0.6% in April, as expected and following a 0.9% increase in March, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, rose by 0.4%, higher than the consensus estimate of a 0.3% increase. Core CPI rose by 0.2% in March. Year over year rates for overall and core CPI rose to 3.8% and 2.8%, respectively from 3.3% and 2.6% in March. The overall year-over-year figure was the highest recorded since May 2023.In company news, eBay (EBAY) said Tuesday its board rejected GameStop's (GME) unsolicited, non-binding $55.5 billion buyout offer. The board concluded the company is better positioned to generate growth and shareholder value as a standalone business under its existing management, eBay said. Shares of eBay were up 0.2%, while GameStop shares were down 1.9% around midday.On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.37 Swiss francs ($0.47) per diluted share, up from 0.21 francs a year earlier and above the FactSet consensus analyst estimate of 0.27 francs. Net sales were 831.9 million francs, up from 726.6 million francs a year ago and above the FactSet consensus of 818.5 million francs. For full-year 2026, the company said it expects net sales to grow by at least 23% year over year on a constant-currency basis, implying reported sales of at least 3.51 billion francs at current spot rates, it said. On Holding shares were down 4.6%.Under Armour (UAA) reported a fiscal Q4 adjusted loss Tuesday of $0.03 per diluted share, narrowing from a loss of $0.08 a year earlier but below the FactSet consensus of a loss of $0.02. Fiscal Q4 net revenue was $1.17 billion, down from $1.18 billion a year ago but matching the FactSet consensus. For fiscal 2027, the company said it expects adjusted EPS of $0.08 to $0.12 on a slight decline in revenue. Analysts polled by FactSet expect adjusted EPS of $0.23 on revenue of $5.05 billion. Under Armour shares were down 17%.Wendy's (WEN) faces a potential take-private bid from Trian Fund Management, which is seeking investor backing for a takeover, the Financial Times reported Tuesday, citing people familiar with the matter. Wendy's shares were up 15%.Alphabet's (GOOG, GOOGL) Waymo is recalling 3,791 robotaxis in the US due to a software issue that could likely cause the vehicles to drive onto flooded roads, Reuters reported Tuesday, citing the National Highway Traffic Safety Administration. The recall pertains to certain fifth- and sixth-generation automated driving systems in the robotaxis, the report said. Alphabet's Class C and Class A shares were down 0.5% and 0.4%, respectively.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said Tuesday on Bloomberg TV that financial markets may be showing "a little bit too much exuberance" given current inflation risks and geopolitical tensions. JPMorgan shares were up 0.5%.Price: $108.27, Change: $+0.14, Percent Change: +0.13%

$EBAY$GME$GOOG$GOOGL$JPM$ONON$UAA$WEN
Research

JPMorgan Downgrades Wendy's to Underweight From Neutral, Adjusts Price Target to $6 From $7

Wendy's (WEN) has an average rating of hold and mean price target of $7.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$WEN
Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.2%.In corporate news, Brown-Forman (BF.A, BF.B) and Pernod Ricard's $15 billion deal talks fell apart over control of the combined company, Semafor reported Friday. While Brown-Forman is the slightly smaller of the two companies, the Brown family wanted to take a stake in the combined company that would have been larger than the Ricard family's, the report said. Brown-Forman Class A shares were up 0.7%, and its Class B shares rose 1.4%.Monster Beverage (MNST) shares jumped past 13% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 1.1%.Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 5.3%.

$ABNB$BF.A$BF.B$MNST$WEN
Sectors

Sector Update: Consumer Stocks Rise Friday Afternoon

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.6%.In corporate news, Monster Beverage (MNST) shares jumped past 15% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 3.1%.Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 3%.

$ABNB$MNST$WEN
Sectors

Sector Update: Consumer

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.In corporate news, Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 2.1%.

$WEN
Sectors

Sector Update: Consumer Stocks Advance Premarket Friday

Consumer stocks were advancing premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.4% higher.Interface (TILE) shares were up nearly 11% after the company posted higher fiscal Q1 adjusted earnings and net sales, and raised its fiscal 2026 outlook.Wendy's (WEN) stock was up more than 4% after the company reported Q1 adjusted earnings and revenue that topped analysts' expectations, with revenue increasing year over year.Zara has denied infringing Estee Lauder's (EL) Jo Malone trademark in an infringement case, Reuters reported, citing a court filing. Estee Lauder shares were 0.8% higher pre-bell.

$EL$TILE$WEN$XLP$XLY
US Markets

Wendy's Maintains Full-Year Outlook Following Surprise First-Quarter Revenue Growth

Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal first-quarter revenue unexpectedly increased year over year.The company continues to project adjusted earnings to come in between $0.56 and $0.60 per share for fiscal 2026. The current consensus on FactSet is for non-GAAP EPS of $0.57. Global systemwide sales are still pegged to be roughly flat.For the quarter ended March 29, Wendy's adjusted EPS fell to $0.12 from $0.20, but topped the Street's view for $0.10. Revenue increased 3.3% to $540.6 million, defying the average analyst estimate on FactSet for a decline to $518 million. On an adjusted basis, revenue improved 2.2%.The stock rose 4.7% in the most recent premarket activity."We are taking decisive action to strengthen the Wendy's system and improve performance," interim Chief Executive Ken Cook said in a statement. "Our focus on operational excellence is driving improvement in order accuracy and key customer satisfaction metrics."Same-restaurant sales around the world dropped 6.8%, more than the market's forecast for a decrease of 6.4%. In the US, the metric slipped 7.8% versus a 2.8% decline in the prior-year quarter. International same-restaurant sales edged down 0.4%, compared with growth of 2.3% last year."While our first-quarter results reflect a business in the early stages of a turnaround, we are making progress to improve our US business and are confident in the direction we are heading," according to Cook.Systemwide sales declined 5.5% on an annual basis in the quarter. International growth slowed down to 6% from 8.9%, while the US recorded a 7.3% drop. The company opened 50 new restaurants during the three-month period.Wendy's said it entered into a franchise agreement with an "experienced" restaurant operator to build up to 1,000 restaurants across China over the next decade, Cook said. "These actions are strengthening our foundation and positioning Wendy's to regain momentum and deliver sustainable growth and long-term value creation," the interim CEO added.Earlier in the week, McDonald's (MCD) and Burger King parent Restaurant Brands International (QSR) reported their first-quarter results that came in above Wall Street's estimates.

$WEN
Wire

Wendy's Estimates Lowered on 'Challenging' Setup, Oppenheimer Says

Wendy's (WEN) estimates are lowered ahead of its Q1 results to reflect a challenging setup, Oppenheimer analysts said in a Tuesday report. The Q1 results are due May 8.The analysts lowered their 2026 and 2027 estimates for same-store sales and EBITDA below consensus estimates."We believe our model better reflects the challenging near-term setup and ongoing underperformance vs. peers," they said.For Q1, US same-store sales are expected to drop 7.5%, against the Street's 7.2% decline, the report said. EBITDA is forecast at $101.7 million, below Street's $102.5 million estimate.Still, sales trends could improve in the second half of 2026 as Wendy's closes underperforming restaurants, rolls out marketing initiatives and benefits from easier comparisons.Oppenheimer maintained its perform rating on the stock.Price: $6.60, Change: $-0.02, Percent Change: -0.23%

$WEN
Wire

BofA Adjusts Price Target on Wendy's to $7 From $8

Wendy's (WEN) has an average rating of hold and mean price target of $7.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $6.95, Change: $+0.02, Percent Change: +0.29%

$WEN
Wire

Wendy's Expected to Face Another Challenging Top-Line Quarter, RBC Capital Markets Says

Wendy's (WEN) is set up for another challenging top-line quarter, with a slight Q1 US same store sales miss, though some directional improvement is anticipated, RBC Capital Markets said in a note Wednesday.The brokerage said Q1 results will reflect whether management's turnaround plan is gaining traction in franchisee locations, as company-operated stores have been outperforming franchisees over the past couple of quarters. The key metric will be franchisee comp relative to company-operated, RBC said.After the company updated its menu in 2025, the brokerage said it is looking for improved consumer value perceptions and higher traffic.Wendy's plans to close 5% to 6% of total US stores, primarily in H1, focusing on its worst performing locations and expecting an impact on its global sales and full-year EBITDA, according to the note.The company's international segment continues to grow, though driven by lower average unit volume markets like Latin America and Asia Pacific, which is dilutive to system sales, while flat population growth in Canada, which contributes about half of international sales, could pose a headwind to same-store-sales growth, the brokerage said.RBC Capital Markets maintained a sector perform rating on Wendy's, with a price target of $8.Shares of Wendy's were down 1.3% in Thursday trading.Price: $7.01, Change: $-0.09, Percent Change: -1.27%

$WEN
WEN News | FINWIRES