ATLANTA (AP) — Wendy’s/Arby’s Group Inc. says it is considering selling its Arby’s business.
The Atlanta restaurant operator has experienced softness at both its Wendy’s and Arby’s locations, but Arby’s has long been suffering because its sandwiches can cost $5 or more, more expensive than many other fast-food offerings.
Diners in the downturn focused on value and price, so they sought out cheaper alternatives.
Chairman Nelson Peltz said in a statement on Thursday that the company believes the best way to maximize shareholder value is to concentrate its efforts on Wendy’s.
He says the reality is that the Wendy’s brand, given its relative size and scope, is the key drive of shareholder return.
The Arby’s sandwich chain has almost 3,700 restaurants.
Copyright Associated Press