It appears as if Wendy's missteps over the past two years could be ending and that the growing new product pipeline and easing beef costs could allow for same-store sales and margins to be bottoming. |
We do not believe that this single data point reflects a turnaround, but more likely a one-month perfect storm. The company still has work to do in terms of reinvigorating its menu to drive more consistent traffic. |
We have little visibility regarding the time it might take to get back in-line with guidance. |