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Burger King tops Wendy’s as nation’s second-largest burger chain

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Burger King tops Wendy's as nation's second-largest burger chain

Burger King and Wendy’s signage.

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Burger King has overtaken Wendy’s as the second-largest burger chain in the U.S. by systemwide sales, retaking its crown six years after losing it to the rival chain.

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The change in positions follows the two companies’ diverging results over the past two years.

Wendy’s has reported shrinking U.S. same-store sales for six straight quarters. Its domestic same-store sales slipped 7% in its latest quarter, the company reported on Friday.

Meanwhile, Burger King has been embarking on a turnaround and has seen its domestic same-store sales rise over the past five quarters; the Restaurant Brands International chain on Thursday reported U.S. same-store sales growth of 8.5% for its second quarter.

McDonald’s holds onto its spot as the number one burger chain, with a significant lead. Although the company only reports its systemwide sales on a global basis, it held about 48% of the U.S. burger market share in 2024, according to Barclays. For comparison, at that time, Wendy’s had an 11.4% share of the market, while Burger King had a 10% hold.

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Wendy’s initially overtook Burger King through the success of its nationwide breakfast launch. But staying number two has been a rocky road.

Both Wendy’s and Burger King had to navigate the Covid-19 pandemic and the subsequent supply chain issues that led to soaring food costs. Then came the consumer pushback against rising menu prices and a pullback in restaurant spending.

In late 2022, Restaurant Brands announced a turnaround plan for Burger King’s U.S. business after a year of lackluster sales. The strategy has focused on improving its food quality, investing in marketing and remodeling restaurants.

While Burger King tried to find its footing, Wendy’s was dealing with a revolving door of chief executives at a time when consumers were growing even more value conscious and beef costs were soaring.

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In 2024, Wendy’s longtime CEO Todd Penegor retired after eight years in the role. PepsiCo executive Kirk Tanner succeeded him but left after a little more than a year to lead Hershey’s. CFO Ken Cook took over as interim CEO until Wendy’s tapped former Potbelly CEO Bob Wright as his permanent replacement in May.

“Our quality differentiation has eroded, our value proposition has weakened, and we have not consistently delivered the experience customers expect from Wendy’s,” Wright said on the company’s earnings conference call on Friday. “These issues have weighed on traffic and created pressure on the restaurant economic model, which is the heartbeat of this business, and this is reflected in our latest results.”

Now Wendy’s is planning to embark on its own turnaround to revive sales, meaning that Burger King can’t rest on its laurels.

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Business Daily - Taking stock: Global trade's new reality

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What is driving the global shift towards economic protectionism? Will Bain is joined by Jennifer Pak, NPR’s China correspondent, and Trevor Simumba, an international business consultant in Zambia, to discuss why the trend has accelerated since Donald Trump’s tariffs and why global trade remains resilient despite growing barriers. Plus, why Africa’s Lobito Corridor matters for trade, what AI means for jobs in China and beyond, and why drinks giant Diageo is cutting costs. And, two food heroes: China’s baozi and Uganda’s matoke.

(Photo: A ship docks at Lobito Port in Angola, 4 December, 2024. Credit: Elizabeth Frantz/Reuters)

You can email the team: businessdaily@bbc.co.uk

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Presenter: Will Bain
Producer: David Cann

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Jorge Messi, Father and Longtime Agent of Lionel Messi, Dies at Age 68 in Argentina After Long Illness

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Jorge Messi, Father and Longtime Agent of Lionel Messi, Dies

ROSARIO, Argentina — Jorge Messi, the father and longtime business representative of Argentine soccer icon Lionel Messi, died Friday night at a clinic in his native Rosario after a prolonged illness, according to multiple Argentine media outlets. He was 68.

Reports from outlets including Infobae indicated Jorge Messi passed away around 10 p.m. local time. An official cause of death had not been confirmed by the Messi family as of Saturday. He is survived by his wife, Celia, sons Lionel, Rodrigo and Matias, daughter Maria Sol, and a number of grandchildren.

A Health Struggle That Played Out Publicly

Jorge Messi’s declining health first drew widespread public attention during the World Cup, when Lionel Messi was seen visibly emotional on the field, including after scoring against Algeria. Asked about the tears, Messi told reporters at the time, “Why was I crying? It had absolutely nothing to do with football. I have had a few difficult days.” His remarks quickly sparked speculation linking the emotion to his father’s condition.

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Days later, the Messi family issued a public statement addressing the situation directly. “The Messi family wishes to inform you that Jorge Messi is currently dealing with health problems,” the statement began. “He is currently under medical supervision and is recovering well.” The family went on to express concern over the intensity of the speculation, writing, “Given the reports, rumours and speculation that have been circulating in recent hours, the family wishes to express its deep concern about the lack of sensitivity,” while asking that “the privacy, confidentiality and personal space of Jorge – and that of his entire family – be respected throughout this process.”

A separate statement issued in the following weeks said Jorge had been “under medical monitoring, recovering and evolving favorably within the condition he presents.” In late July, Lionel Messi skipped Major League Soccer’s All-Star Game, a decision widely believed to be tied to a visit with his father, before returning to action for Inter Miami in an MLS match days later.

The Man Who Took Messi to Barcelona

Jorge Messi’s influence on his son’s career is difficult to overstate. When a young Lionel was coming up through the youth academy at Newell’s Old Boys in Rosario, he was diagnosed with a growth hormone deficiency requiring costly treatment. After failing to secure sufficient financial support in Argentina, including from Newell’s and River Plate, Jorge explored options abroad, ultimately taking his son to try out for FC Barcelona.

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That trial led to one of the most famous moments in the club’s history: an agreement scribbled on a paper napkin with then-Barcelona sporting director Carles Rexach on Dec. 14, 2000, at the Pompeia Tennis Club, committing the club to sign the 13-year-old Messi and fund his medical treatment. The move to Spain, made possible directly by Jorge’s determination to find his son a path forward, is widely regarded as one of the most consequential decisions in the history of the sport.

Staying by His Son’s Side During a Difficult Transition

Messi was just 13 when the family relocated to Spain, a transition that proved difficult for several family members who struggled to adjust to life away from Argentina. Jorge remained by his son’s side throughout that period, providing stability during a stretch when Messi’s future in the sport was still far from guaranteed. Messi has spoken previously about how emotionally taxing that time was for both of them, recalling that there were days when he and his father each struggled deeply and would retreat separately to cry so the other would not see it. “My father was always by my side,” Messi has said, describing how Jorge repeatedly checked in with him, asking whether he wanted to continue pursuing his dream in Spain or return home to Argentina. Messi chose to stay.

A Behind-the-Scenes Presence for Decades

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Despite managing the business affairs of arguably the most recognizable athlete on the planet, Jorge Messi consistently preferred to remain out of the spotlight, giving few interviews over the years and generally avoiding the intense media attention that followed his son throughout his career. He served for decades as Lionel Messi’s agent and financial representative, a role that placed him at the center of many of the most significant decisions in his son’s professional life, from contract negotiations to the eventual move to Paris Saint-Germain and later to Inter Miami.

That behind-the-scenes role was not without controversy. In 2016, Spanish prosecutors sought an 18-month prison sentence and a fine against Jorge Messi for allegedly defrauding Spain’s tax authorities of approximately 4.5 million dollars in unpaid taxes between 2007 and 2009, a case that also named Lionel Messi before prosecutors ultimately cleared the player of wrongdoing.

Tributes Expected From Across the Football World

Given Jorge Messi’s decades-long presence alongside one of the most celebrated athletes in the history of the sport, tributes from clubs, players and football institutions across the world are expected in the days following his death. His passing comes at a moment when Lionel Messi remains an active professional player with Inter Miami in Major League Soccer, having recently contributed a goal and an assist in a match against San Luis just days before his father’s death.

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Funeral arrangements had not been publicly announced as of Saturday. Given Jorge Messi’s central and enduring role in shaping his son’s rise from a young prospect in Rosario to one of the greatest players in the history of football, his death is expected to prompt an outpouring of tributes from across the sport in the coming days, even as the family has continued to ask, as it did earlier this year during his illness, that its privacy be respected during this period of grief.

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Value mutual fund investing is supposed to be dead. But Colin McQueen, manager of the T. Rowe Price International Value Equity Fund, has a knack for finding beaten-down stocks that prove the strategy is very much alive. A 2026 IBD Best Mutual Funds Awards winner, T. Rowe Price International Value Equity (TRIGX) has topped the foreign-stock benchmark IBD uses to…

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