Fast-food giant Wendy’s will close hundreds of its U.S. restaurants as it looks to focus on value and boost lagging sales in the domestic market.

In the October through December quarter, the fast-food giant reported same-store sales, or sales at restaurants open for at least one year, declined 11.3% in the U.S.

While Wendy’s previously announced late last year its intent to close underperforming restaurants, interim CEO Ken Cook provided more details on Friday during the company’s call with investors.

WENDY’S INTRODUCES NEW VALUE MENU WITH 3 PRICE TIERS

Wendy’s interim CEO Ken Cook said the company will close 5% to 6% of its restaurants. (Al Drago/Bloomberg via Getty Images)

Cook said that the company shuttered 28 locations in the fourth quarter of 2025 and expects to close 5% to 6% of its 5,959 restaurants, or 298 to 358 locations, in the first half of this year.

The planned closures occur as the fast-food giant continues its turnaround plan dubbed Project Fresh. Announced in October 2025, Wendy’s said the strategy is “designed to revitalize the brand, reignite growth, [and] accelerate profitability.”

Part of its plan to win back customers is shifting its focus to value, as many core customers still feel strained by higher living costs.

THIS FAST-GROWING CHAIN SAYS ‘NO DISCOUNTS’ – AND IT’S PAYING OFF

The fast-food chain closed 28 locations in the fourth quarter of 2025, interim CEO Ken Cook said. (Zamek/Viewpress/Getty Images)

“Learning from 2025 around value, we swung the pendulum too far towards limited-time price promotions instead of everyday value,” Cook said during the call.

Rivals like McDonald’s have seen success as they hone in on value for customers. The chain, which has focused heavily on value, reported that its U.S. sales rose 6.8% in the fourth quarter, the biggest jump in roughly two years. It’s CEO, Chris Kempczinski, told investors on Thursday that McDonald’s focused on “delivering leadership in value and affordability, and our efforts are working.”

MCDONALD’S BRINGS BACK EXTRA VALUE MEALS TO LURE BUDGET-CONSCIOUS CUSTOMERS

Wendy’s joined McDonald’s and other fast-food chains in January when it launched a permanent value menu offering called “Biggie Deals.” It introduced new customization options across three price points: $4, $6 and $8.

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Cook also said 2026 will be a “rebuilding year” for the company, and noted the upcoming rollout of a new chicken sandwich and “cheesy bacon cheeseburger.” 

“Our focus this year is restoring relevance and rebuilding trust with customers through disciplined execution and marketing,” he said.

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Hello, everyone. Thank you for joining ExaWizards Financial Results briefing for the third quarter of the fiscal year ending March 2026. In this briefing, I will explain the quarterly performance driven by AI and our future growth strategies, followed by a presentation from our Representative Director and President, CEO, Makoto Haruta.

Here’s today’s agenda. First, I will cover the Q3 financial summary and consolidated results, followed by details on the status of each segment. Finally, I will share business updates focusing on AI agents, which we are currently emphasizing. I will not explain the appendix, so please download the presentation material from our website for your reference.

Let’s start with Section 1, the executive summary of the third quarter of fiscal year ending March 2026. Net sales for Q3 were JPY 3.116 billion. Operating profit was JPY 481 million. By segment, the AI Products business generated JPY 1.229 billion in sales and JPY 371 million in operating profit. This business continues to grow strongly, led by exaBase Generative AI, which has captured the top market share. The AI Solutions Services Business also returned to a growth trajectory with sales of JPY 1.922 billion, an increase over the previous year and an operating profit of JPY 717 million or 106% year-on-year due to contributions from large-scale projects.

Section 2 provides a detailed summary of our consolidated financial results. As shown here, both net sales and operating profit reached record highs on a quarterly basis. Net sales grew steadily to over JPY 3.1 billion and the operating profit improved dramatically, reaching JPY 481 million compared to just JPY 6 million in the same period last year. We achieved record highs for both net sales and operating profit for

White House Senior Counselor for Trade and Manufacturing Peter Navarro touted what he called a “Goldilocks economy” under President Donald Trump while promising Americans the “biggest rebate” in U.S. history.

“When Americans get those rebate checks on tax day, that’s going to be the biggest rebate and broad-based in American history,” Navarro said Sunday. 

“In 2026, unless the geopolitics get in the way, it’s shaping up to be beautiful.”

Appearing on Fox News’ “Sunday Morning Futures,” Navarro pointed to the latest economic data showing inflation easing while job growth and wages rise. The consumer price index (CPI) increased 2.4% over the past year, beating expectations and marking an eight-month low in inflation.

TRUMP SPEECH SPARKS OPTIMISM AS ‘GANGBUSTER’ ECONOMY FORECASTED FOR 2026

Peter Navarro, White House senior counselor for trade and manufacturing, speaks to members of the media outside the White House in Washington, DC, US, on Thursday, May 8, 2025. (Bonnie Cash/UPI/Bloomberg via Getty Images / Getty Images)

“This is happening because of tariffs, not in spite of them, as the critics would say, because if there were any tariff inflation, it would show up in the core. It’s simply not doing that,” Navarro said.

“So everything is hitting on all major cylinders, and the best is yet to come.”

Navarro’s remarks come as the Supreme Court weighs Trump’s use of emergency tariffs, with the justices set to issue opinions Friday that could include a ruling on the policy.

BANK OF AMERICA CEO SEES STRONGER 2026 ECONOMY, SAYS WALL STREET MAY BE UNDERESTIMATING GROWTH

President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025, in Washington, DC. (Chip Somodevilla/Getty Images / Getty Images)

The ruling would determine whether the president can continue using emergency authorities to impose tariffs without additional congressional approval.

The administration has long justified Trump’s tariffs as a way to boost domestic manufacturing, reduce reliance on foreign supply chains and counter what officials describe as unfair trade practices by other nations.

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Navarro reiterated that defense on Sunday, pointing to what he described as a resurgence in U.S. manufacturing.

“We had the ISM manufacturing index, which is dear to my heart, because I’m the counselor for trade manufacturing. That’s showing a very robust final jump in manufacturing,” he said.

The Ferndale business has a new new managing director

Valleys -based manufacturer Avon Engineered Rubber is posed for continued domestic and international growth under a new managing director.

Vince Minchella has taken up the head role at the Ferndale-based which specialises in aerosol gaskets and seals and specialist industrial rubber moulding for automotive, HVAC (heating ventilation and air conditioning, construction, and other industries. He has been promoted for a commercial role with the business.

The company is one of nine engineering firms that make up Bristol-based Avon Group. With the support of Avon Engineered Rubber the group is targeting breaking through the £100m annual revenues mark for this first time by 2030.

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Mr Minchella has taken over the helm of the business following the opening of new premises in Malaysia o

Mr Minchella said: “I’m excited to have been given the opportunity to lead Avon Engineered Rubber forward because it is a very important part of Avon Group as the exclusive global source for both stem and cup seal gaskets.

“We’ve been the ‘go-to’ supply partner for the world’s top aerosol valve producers for more than 20 years and I am confident that we will kick on and expand our reach as well as playing an important role in Avon Group’s overall progress.”

On its new Malaysian operation he added: “The official opening of our new Malaysian base is an important milestone for the business as we are now ideally placed to support growing demand for our products in the South East Asian market and beyond.

“We are very proud of the progress our formidable Malaysian team have been making and they did themselves, Avon Engineered Rubber and Avon Group as a whole proud by staging a fantastic opening which bodes well for our future.

“By honouring local traditions and blessing the visiting dragons it means we’ve got off to a perfect start in new surroundings which we can be proud of as we focus on future expansion.”

The Ferndale operation employs 107 across its production, laboratory, quality, sales, logistics and administration teams.

To support its growth the business, which also has a presence in the US, has invested £300,000 investment in cutting-edge extrusion technology and plant upgrades.

Avon group director, Mark Rushin said: “We are all really ambitious and passionate about what we do and with exceptionally talented people in vital positions we are firmly on course to rise to every challenge and fulfil Avon Group’s vast potential.”

Avon Engineered Rubber was acquired by Avon Group in 2007.