I was going to write about Crypto and The Clarity Act, which is currently stalled in the U.S Senate. I will write about that soon.
Tonight, I am going to touch upon another current business headline. As someone who knows quite a bit about Wendy’s from working as a Shift Manager; and someone who has been a stockholder at various times, I do believe I have some knowledge about what is going on.
Back in May, Wendy’s hired Mr. Robert Wright as their newest CEO. Mr. Wright had previously been employed with the company. He is I think, the 4th CEO, in the last 3 plus years.
Mr. Wright has his work cut out for him. He has inherited a host of negative ongoing problems:
– Same store sales volume are down across the entire system of
6,000 plus stores.
– Overall Market Share has dropped now placing them 3rd
behind Burger King and McDonals.
– Food Quality continues to be an issue across the board.
– Brand Execution needing to be stepped up substantially
Mr. Wright has been very honest about the current financial shape of Wendy’s.
Now, I am going to give my personal thoughts to add, and of course you can judge for yourself.
First off, Wendy’s has really gotten away from putting the customer first.
Next, more emphasis needs to be put on what the customer is paying for, Value-wise.
Also, getting back to the basics and less with the trendy marketing tie-ins.
I also believe Wendy’s International should allow the franchisees to be able to have their own local marketing strategies and advertising. This would help with other fast food and dine-in competion.
Lastly, they need to really market their Breakfast offerings. To me, Wendy’s Breakfast menu is far better than any other chain.
I do believe they will be able to “Wright the Ship”, pardon the pun. It is going to take hard work and sacrifice. Overall, even though I am no longer employed with Wendy’s; I will always support and believe in the late founder, Dave Thomas’s vision and principals.
–John L. Regoli
The Regoli Company, LLC
Leave a Reply