Not surprised and honestly kind of sick of it. When the company has to tout a $5 Biggie Bag as proof customers are coming back, that screams demand is weak at the low end where most fast food depends on traffic. Closing 200 to 350 locations is pruning, sure, but it’s also a real sign that consumers are cutting dining out when their paychecks don’t keep up with prices.

This isn’t just bad site selection, it’s macro. Same-store sales pressure, stubborn inflation, and squeezed lower-income households mean fewer impulse trips. Franchisees take the hit first, corporate paints closures as “optimizing,” and investors clamor for margins while traffic dries up. Wendy’s stock being down nearly half this year isn’t a coincidence.

Short term this might boost profitability at nearby units, long term it’s a canary in the coal mine for discretionary spending. If wages and household balance sheets don’t improve, expect more pruning across the sector, not a quick rebound.