Wendy’s has lost its place as America’s runner-up to McDonald’s, ending a six-year run as the second-largest burger chain, being surpassed by a resurgent Burger King.
Burger King reclaimed the No. 2 position as its U.S. turnaround gains momentum, with domestic same-store sales jumping 8.5% in the second quarter. Wendy’s, meanwhile, reported a 7% decline in U.S. same-store sales, marking its sixth consecutive quarter of contraction.
Wendy’s new CEO Bob Wright acknowledged the chain’s problems Friday, saying its competitive edge has weakened as customers have pulled back.
“Today we are clearly not performing at our potential,” he wrote in a…
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