Wendy’s shares tumbled 2.75 percent on Wednesday after the burger chain reported disappointing same-store sales at its North America division.
Same-store sales in North America rose 0.4 percent in the second quarter, missing the 1.9 percent rise analysts polled by research firm Consensus Metrix had expected.
“While Wendy’s does not say this, we believe that July was the worst month for U.S. quick-service burger-sector same-store sales so far this year, modestly worse than the previous worst months of April and May, albeit still in modestly positive territory,” Mark Kalinowski, a Nomura analyst, wrote in a research note Wednesday.
