Wendy's to close hundreds of U.S. stores as low-income consumers cut back
Wendy's plans to close hundreds U.S. restaurants over the next few months amid spending cutbacks from its customers.
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Wendy's plans to close hundreds U.S. restaurants over the next few months amid spending cutbacks from its customers.
Americans are reining in their spending at fast-food restaurants as they continue to face economic uncertainty.
Wendy's is facing softer consumer demand, with households earning less than $50,000 planning to cut back on eating out.
The average cost of a fast-food meal in the U.S. is now $11.56 in major cities across the U.S., according to LendingTree.
The new Frosty flavor will be available at Wendy's locations beginning in late February.
Rumors that the fast-food chain Wendy's would create a new Frosty flavor went viral last month. CBS Saturday Morning can confirm that a new frozen treat is on its way. Here's the behind-the-scenes details on how the new flavor was created.
Fast-food and sit-down restaurants are dishing out promos to try to lure budget-conscious consumers back to their tables with value meals.
Several fast food chains are introducing new, cheaper meals following complaints from customers about rising prices. The price of a fast food meal has outpaced inflation, rising about 5% in the last year. CBS Bay Area's Kenny Choi has more.
More fast-food chains and discount retailers are cutting prices as inflation-fatigued customers balk at high prices, hurting sales.