The CEO of Wendy’s said its sales performance since entering the UK market earlier this year had made it even more excited about its prospects for local success.
The hamburger chain has opened three restaurants and four delivery kitchens since the summer after designating the UK a beachhead for European expansion.
Speaking with investors yesterday, president and CEO Todd Penegor said he was delighted with the way that the first stage of the UK roll-out had gone.
“Our expansion into Europe through the UK continued to accelerate as we’ve opened several restaurants since the second quarter,” he said.
“We are seeing extremely strong sales across all of our UK restaurants as customers are thrilled to have Wendy’s in the market, making us even more excited about our growth opportunity.”
Mr Penegor said UK sales during the third quarter had been better-than-expected and the chain was currently in the process of bringing additional franchise partners into the business in the near future.
“We anticipate having 10 restaurants open by the end of the year which is incredible given that we just opened our first location in June,” he revealed.
“We have also added to our new restaurant commitments with several groundbreaker development agreements in some of our international markets, further solidifying our path toward our long-term unit growth goal.”
Globally, the business remains on track to reach approximately 7,000 restaurants by the end of 2021 even though it continues to face a “challenging” supply chain environment, Mr Penegor said.
He added that Wendy’s aims to reach 8,500 to 9,000 global restaurants by the end of 2025.
“Our playbook of investing to drive accelerated growth behind our three long-term pillars to build our breakfast daypart, drive our digital business and expand our footprint across the globe remains the same, and we continue to make meaningful progress.”