NasdaqGS:WENHospitality
Wendy’s China Push Tests Turnaround Hopes And Valuation Case
Wendy's (NasdaqGS:WEN) has announced a major franchise agreement to open up to 1,000 restaurants in China over the next decade.
The expansion is part of its "Project Fresh" turnaround plan and is intended to offset weaker U.S. same-restaurant sales.
The deal marks a shift in focus toward international markets as the company looks for new long term growth drivers.
Wendy's, trading at around $6.95, has seen extended share price pressure, with the stock down 14.9% year to date and 39.1% over...