DUBLIN, Ohio – Solid early results from Wendy’s “4 for $4” promotion have executives at the Dublin-based quick-service restaurant chain optimistic about the future. Introduced in mid-October, the meal features a Jr. Bacon Cheeseburger, chicken nuggets, fries and a drink for $4.
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| Emil Brolick, president and CEO of Wendy's |
“We are very happy with the early results, and we are meeting a consumer need for a compelling value with a high quality, unique offering,” Emil Brolick, president and CEO, said during a Nov. 4 conference call with analysts. “Our goal with this promotion is to complement our high-end messages with a program that will drive profitable customer count growth, and we are very encouraged by the customer count growth we are experiencing. We expect that this will be the first of several value bundles that you will see us use in concert with high-end, core, and (limited-time offer) messages.”
Brolick said Wendy’s strategy is to consistently project a balanced message of high-end messaging comprised of either a core message or a limited-time only product, supported underneath by a price-value message.
“Now, will that always be 4 by $4?,” Brolick said. “I will not share that with you. But there will be a price-value message underneath that. And I think that is the most important thing to take away from this. And I think that is also how we address — help address check, because the higher-end items, we have the opportunity to … have consumers make selections by themselves of items that will provide that. So we feel that one-two punch of high-end and price-value is going to serve as well for the remainder of this year and through 2016.”
Net income for the third quarter dropped 67 percent to $7.6 million reflecting the impact of discontinued operations. Revenues for the quarter declined 6.5 percent to $464.6 million, which the company attributed to its ownership of 153 fewer restaurants.
