Wendy’s is 55 years old, but 2025 has been hard for the company.
Its share price has dropped by about 50%. Some top bosses left, and the chain has no permanent CEO right now.
Sales in U.S. restaurants that have been open for at least a year are also going down.
Fast-food customers are spending less money this year. McDonald’s and Burger King had slow months too, but they bounced back with strong ads and new deals.
Wendy’s tried many different promotions in summer. Shoppers felt the offers were confusing, so they bought less.
Some experts also say many Wendy’s restaurants look old. This can push people to choose newer-looking places.
To fix the problem, Wendy’s made a big plan called Project Fresh.
The plan will:
• Use clearer ads that talk about fresh, never frozen meat.
• Help restaurant owners earn more money.
• Add digital menu boards and other new tech.
Some analysts like the idea of fewer, simpler promotions.
Others say the real issue is the look of the restaurants. They think Wendy’s needs faster upgrades, not just new ads.
More details about Project Fresh will come during the company’s call with investors on November 7.