Wendy’s Sales Dented by Persistent U.S. Struggles

Katherine Hamilton

Fri, February 13, 2026 at 9:39 PM GMT+9 2 min read

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WEN

-7.74%

Wendy’s had a drop in same-restaurant sales in the fourth quarter as weakness in its U.S. business persisted. - Justin Sullivan/Getty Images

Wendy’s had a drop in same-restaurant sales in the fourth quarter as weakness in its U.S. business persisted.

Same-restaurant sales fell 10.1%, compared with the 8.5% decline that analysts had expected. The decline was mostly driven by the U.S., where same-restaurant sales fell 11.3%, while they were down 2% internationally.

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“Our fourth-quarter performance was in line with our expectations, reflecting the challenges we anticipated,” interim Chief Executive Ken Cook said.

Wendy’s stock fell 7.2% to $6.75 in pre-market trading Friday. Shares closed at a 52-week low on Thursday after losing about half their value over the past 12 months.

The fast-food chain is making progress on its turnaround plan in the U.S., Cook said. The company in November said it would close hundreds of locations through the next year. The closures are expected to affect a mid-single-digit percentage of Wendy’s 6,000 U.S. restaurants.

Lower-income consumers are pulling back on spending in particular, Cook said in November. Some restaurants reported consumers making fewer trips and smaller purchases due to affordability concerns.

Net income was $26.5 million, or 14 cents a share, compared with $47.5 million, or 23 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 16 cents, ahead of the 14 cents anticipated by analysts, according to FactSet.

Revenue fell 5.5% to $543 million. Analysts surveyed by FactSet had forecast revenue of $537.2 million.

Sales were dented by lower advertising funds revenue, franchise loyalty revenue and franchise fees.

In 2026, Wendy’s anticipates adjusted earnings per share will be 56 cents to 60 cents, below the 86 cents analysts are projecting.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

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