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Article: Wendy's winged by surging rivals; Fast-feeder blames competitor's menus; observers slam its ads.(News)
- Article from:
- Advertising Age
- Article date:
- October 25, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: KATE MACARTHUR
Wendy's is admitting that rivals have it on the run-and observers fault the fast-food chain's advertising.
Once the fast-food industry darling, the No. 3 burger chain trimmed its 2004 earnings outlook for the second time in a month, following a surprising 6% dive in October same-store sales at company-owned stores. John Glass, restaurant analyst with CIBC World Markets, called the October surprise "unprecedented,'' adding that at the low point of its woes McDonald's domestic comparative sales were down just 3%.
secret's out
Wendy's seems to have been hurt by rivals that have finally achieved menu parity. ...