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Wendy's sees growth from higher-income consumers, no 'major resistance' to prices
Yahoo Finance ^ | 5/10/2023 | Brooke DiPalma

Posted on 05/11/2023 8:32:41 AM PDT by grimalkin

Wendy's (WEN) is gaining higher-income consumers even while inflation continues to plague the restaurant business.

"The good news is we're seeing nice growth with the over $75,000 cohort, and we continue to hold nice share there," CEO Todd Allan Penegor said on a call with investors after Q1 2023 earnings were announced on Wednesday. The under-$75,000 consumers? The company, he said, has "maintained our share, but traffic is relatively flattish there."

In Q1 U.S. same-store sales increased by 7.2% boosted by "continued" higher prices and year-over-year customer count growth in each month of the quarter. The food chain increased prices for the year by about 7%, higher than about 6% in the previous quarter.

CFO Gunther Plosch said the brand isn't really seeing pushback to the higher prices, saying the "proof is in the pudding." He added: "Remember, pricing, the carryover is about 5%...so, the new pricing action is not a lot and again, I think the proof is in the pudding here. We have not seen major resistance from customers on the pricing actions we have taken, as evidenced by the traffic growth that we have seen in the first quarter and maintaining and holding our dollar and traffic share in the category."

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: fastfood; inflation; wendys
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To: grimalkin

Wendy’s Fine Dining


41 posted on 05/11/2023 7:45:24 PM PDT by Old Yeller
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To: grimalkin

I’ll take the Baconator. Hold the mRNA injection.


42 posted on 05/11/2023 7:47:28 PM PDT by Old Yeller
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To: Boogieman

Wendy’s found a price point. 2 for 6 on the Dave.

Nobody matches it. Not a bad burger for FF.

Forego the fries and drink btw.


43 posted on 05/11/2023 7:54:28 PM PDT by eyedigress (Trump is my President!)
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To: ConservativeInPA

I buy Angus beef burgers at walmart. I get 12 patties and the price is around $1.50 each which is still a lot less then a fast food place.
If you buy buns and toast them and add some lettuce you have a better burger. You can add french dressing and pickles and tomato’s etc. The hamburgers taste better made at home.
I like them plain myself.


44 posted on 05/11/2023 10:33:56 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: SaveFerris

#30 I just baked 5lbs of potatoes

You must be Irish : )


45 posted on 05/11/2023 11:00:32 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: minnesota_bound; null and void

There’s is supposedly some of that blood in my past

You’ve (I have) posted a total of 225 threads and 88,888 replies.

Woohoo!!

This will be 88,889!!!

I’m trying to catch Nully


46 posted on 05/11/2023 11:53:00 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: SaveFerris
I've posted a total of 1,588 threads and 182,672 replies.

Only about 93,800 to go...

47 posted on 05/12/2023 5:23:02 AM PDT by null and void (Be gentle with each other. You never know what someone is going through.)
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To: null and void

Oh no......I don’t have any hope of catching you!!


48 posted on 05/12/2023 5:25:53 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Lockbox
Question....... will McDonald’s Bring back the millionaire?

With bidenflation, we'll all be millionaires...

49 posted on 05/12/2023 5:27:33 AM PDT by null and void (Be gentle with each other. You never know what someone is going through.)
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To: SaveFerris

You just need some incentive. Beat me and I’ll buy you lunch at Taco Bell...


50 posted on 05/12/2023 5:35:00 AM PDT by null and void (Be gentle with each other. You never know what someone is going through.)
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To: null and void

I’d fly out there but I don’t think I can get a hotel room LOL

Maybe some day!


51 posted on 05/12/2023 6:26:07 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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