Wendys will shutter a mid single digit percentage of its 6,011 US restaurants starting in the fourth quarter, part of a push to lift profits and polish the brand after 240 closures earlier this year. Interim CEO Ken Cook said underperforming locations will be fixed, transferred to new operators, or closed, as inflation raises prices and pressures lower income diners. Through the first nine months, US same store sales fell 4%, revenue slipped 2% to $1.63 billion, and net income dropped 6% to $138.6 million. Shares fell 7% Friday and were down 5% Monday.

Prepared by Christopher Adams and reviewed by editorial team.