Wendy’s launches “Project Fresh” strategic plan

Wendy’s (WEN) unveiled Project Fresh, a comprehensive strategic plan designed to revitalize the brand, reignite growth, accelerate profitability across the Wendy’s system and enhance shareholder value. The Project Fresh plan is centered across four core pillars: brand revitalization, system optimization, operational excellence and a reallocation of capital and resources to drive profitable growth. Key actions across Project Fresh to drive growth and profitability include: Brand revitalization: Wendy’s has retained industry consultancy Creed UnCo, led by Greg Creed, former CEO of Taco Bell and Yum! Brands, to assist in transforming marketing effectiveness to improve relevance, ease and distinctiveness of the Wendy’s brand. System optimization: Reallocating resources to prioritize AUV growth in the U.S. with the goal of achieving industry-leading restaurant performance. This includes optimizing labor and operating hours across dayparts, partnering with franchisees to maximize profitability within each market, leveraging insights from company-operated restaurants and adopting a returns-based approach to franchisee investments. Operational excellence: Increasing investments to enhance customer experience in restaurants through hospitality, digital and equipment efficiency, simplified processes, labor and technology and enhanced training. Capital allocation: optimizing capital expenditures including technology and marketing.