Wendy's is promoting a limited-time Dave's Single combo for $7.99 and bringing back yellow packaging abandoned in 2012, as part of an effort to win back value-conscious customers. CEO Bob Wright admitted that the chain's quality differentiation has eroded, its value proposition has weakened, and its Biggie value platforms have become too complex. He said Wendy's will apply a tiered value approach across its core menu, everyday value and promotions, modeled on what worked at Potbelly. Same-store sales have declined for six straight quarters, traffic fell 12.5% last quarter, and the chain closed 245 locations in the first half of the year. Wendy's has promised more changes, which Wright is expected to detail with third-quarter earnings next month.
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