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“Whatever routine is, we have to be a part of it,” CEO Todd Penegor said on an analyst call Wednesday to discuss the company’s second quarter financial results. “This is why we put [an] $ 10 million more advertising to work, to make sure this message is loud and clear. ”
Now the company sees “opportunities to have fun and test events to put our food in the mouths of our consumers,” Penegor noted. An example? This weekend, Wendy’s is offering free croissant sandwiches for breakfast.
Honey butter chicken cookies and two for $ 4 deals
“In the second quarter, our breakfast sales accelerated as expected, increasing 10% from the first quarter,” said Penegor. The chain’s $ 1.99 Honey-Butter Chicken Biscuit and the $ 4 two-for-two breakfast offer helped spur growth, he added, saying “these promotions have been critical to our success as we continue to see very high repeat customers and high customer satisfaction after people have tried our breakfast. ” Wendy’s did not compare second quarter breakfast sales to the same time last year.
In the second quarter, breakfast sales contributed to a 16% increase in US restaurants open for at least 15 months compared to the same period in 2020. Growth was nearly 12% compared to 2019, before the pandemic.
With the additional advertising money, the chain is “confident” that it will be able to increase breakfast sales by 30% in 2021, Penegor said. He added that by the end of next year, around 10% of Wendy’s sales are expected to come from breakfast.
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