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Seeking to lift profits and polish its brand, Wendy's will shutter a mid single digit share of its 6,011 U.S. restaurants starting in the fourth quarter, potentially amounting to hundreds of closures on top of 240 already closed this year. Interim CEO Ken Cook said underperforming units will be improved, transferred, or closed as inflation keeps pressure on lower income diners. Through nine months, U.S. same store sales fell 4%, revenue slipped 2% to $1.63 billion, and net income declined 6% to $138.6 million. Wendy's shares fell 7% Friday and were down 5% Monday afternoon.

Prepared by Christopher Adams and reviewed by editorial team.