Will a Strategic Pivot to China Save Struggling Wendy's?

Wendy's (NASDAQ: WEN) is hoping a strategic move into China will reignite the brand that has struggled mightily in the U.S. in recent years. The Dublin, Ohio-based burger chain announced its first-quarter results on May 8, and the numbers were not good.Global sales fell 5.5% in the first quarter, largely driven by weak U.S. restaurant performance, which was down 7.8%. This is an acceleration of the brand's weakening sales performance compared to the same period last year. Wendy's has closed more than 200 locations in the U.S. in the past year. However bad it may be at home, Wendy's recently signed a new agreement with China to open up to 1,000 restaurants over the next decade. This is a bold move for the company, but it isn't unheard of, as competitors such as McDonald's and Starbucks already have established footprints in China. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool