Wendy’s Sees Growth From Higher-Income Consumers, No ‘Major Resistance’ To Prices
Yahoo Finance | 5/10/2023 | Brooke DiPalma

Wendy’s (WEN) is gaining higher-income consumers even while inflation continues to plague the restaurant business.

“The good news is we’re seeing nice growth with the over $75,000 cohort, and we continue to hold nice share there,” CEO Todd Allan Penegor said on a call with investors after Q1 2023 earnings were announced on Wednesday. The under-$75,000 consumers? The company, he said, has “maintained our share, but traffic is relatively flattish there.”

CEO Todd Allen Pinot Noir sounds like perfect fit for running a fast-food joint.

He uses the words “nice,” “nice,” and “flattish,” which is how I describe a Wendy’s meal.