The Wendy’s Co. revealed during Tuesday’s first-quarter earnings conference call that the brand’s attempt to entice customers from its value menu up to the mid-priced W cheeseburger backfired and led to disappointing results, prompting the company to lower its full-year earnings guidance. Chief executive Emil Brolick said the development and marketing of the W cheeseburger was meant to address an imbalance in the chain’s barbell menu strategy, which had become ...

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