Wendy’s plans to relaunch a breakfast menu across the United States next year, it announced Tuesday, the latest fast-food chain to amp up its offerings as more consumers eat out in the morning.
Wendy’s now serves breakfast at 300 restaurants across the nation. It has about 5,800 locations nationwide.
The Dublin, Ohio-based company said it will spend $20 million this year and help franchisees hire 20,000 employees to support the effort. Wendy’s lowered its 2019 earnings forecast and withdrew its 2020 financial guidance, saying it will provide updated goals next month.
The company’s shares dropped 9%, to $19.98 each, in morning trading.
This will be Wendy’s fourth foray into the breakfast market. Its most recent attempt was in 2012.
In a note to investors, Bernstein analyst Sara Senatore said breakfast is a difficult market for restaurants to crack.