Why Wendy's Stock Wilted on Monday
The latest analyst takes on the veteran fast food purveyor weren't encouraging.
Overview
It's safe to say that on Monday, investors weren't lining up at the counter to buy the hamburger that is Wendy's (NASDAQ: WEN) stock. Several new analyst takes on both the quick-service restaurant (QSR) industry generally and Wendy's specifically dampened investor morale on the company's shares. Wendy's closed the day down by more than 5%.
Before market open, Jefferies published a report citing data it had compiled on QSRs in July. Its findings indicate that same-restaurant sales for the industry ticked up 1.7% year over year, which was down roughly 10 basis points from the June percentage. More worryingly, overall traffic (i.e., the number of customers visiting) fell by 2.1%.
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Originally published at www.fool.com.