Wendy's Enters the Breakfast Battle
Wendy’s Co. (NASDAQ: WEN) is following the in the footsteps of McDonald’s and other major fast-food chains by releasing its highly anticipated breakfast menu. The menu will officially launch on March 2.
So far, Wendy’s has invested roughly $20 million to expand its operations to include breakfast services. While this is not much comparatively (Wendy’s has a $5 billion market cap) the foray into breakfast could pay off big, like it has for rivals in the past. McDonald’s was one of the biggest winners from its push into all-day breakfast.
Wendy’s breakfast menu will feature items like the Breakfast Baconator, Honey Butter Chicken Biscuit and Frosty-ccino. It will include all the breakfast staples as well, like bacon, sausage and eggs.
The “Breakfast battle” began Tuesday morning on social media with Wendy’s planning to release a breakfast blitzkrieg, with special content being released on Twitter during the morning hours.
Kurt Kane, president, U.S. and Chief Commercial Officer of Wendy’s:
People deserve a delicious, affordable and higher quality breakfast than what they’re currently getting, so that’s exactly what we’re going to serve when Wendy’s launches breakfast nationally on March 2. Our crew will be hand-cracking fresh eggs on all our breakfast sandwiches and leaning into the quality ingredients that have long set Wendy’s apart from the competition. We’ve crafted unique sandwiches that will leave you craving another, like the Breakfast Baconator, which features a fresh-cracked egg, signature sausage patty and six strips of Applewood smoked bacon.
Wendy’s stock traded up nearly 2% to $22.32 on Tuesday, in a 52-week range of $16.25 to $22.84. The consensus price target is $22.90.