Wendy’s Sales Dropped 20% in Recent Days
The COVID-19 outbreak and related containment measures have started significantly impacting Wendy's (NASDAQ: WEN) business. The fast-food company said on Thursday that sales trends turned sharply lower in mid-March thanks to a raft of temporary restaurant closures and other moves aimed at slowing the spread of the virus.
Sales had been trending 4% higher through the first two months of the fiscal first quarter, right in line with management's forecast. However, that figure changed to a 20% decline during the week ended on March 22, the company said.
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Source Fool.com
