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U.S. demand ‘generally strong,’ but CEO Todd Penegor says burger brand keeps eye on offers
The Wendy's Co. has noticed inflation impacting consumer behavior and is highlighting its value offerings in response, executives said Wednesday.
The Dublin, Ohio-based burger brand, which release earnings for the first quarter ended April 3, saw lower-income customers’ traffic slow and shift to higher-income segments.
Todd Penegor, The Wendy’s Co. CEO and president, said his company has seen consumer segmentation generally seen across all of the quick-service market.
“What we've seen in the first quarter and the bucketing under $75,000 cohort of customers,” Penegor said, “we have seen some of those folks start to slow on the traffic within the category, but that's been made up for by the folks making over $75,000.”
Wendy’s has worked to mak...
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