Wendy's International, Inc. reported Friday that average same-store sales at U.S company restaurants decreased 0.8 percent for the fourth quarter.
Average same-stores sales during the same period a year ago were 3.1 percent.
The 2007 full-year average for same-store sales at U.S restaurants rose 0.9 percent compared with a 1.4 percent increase at U.S franchise restaurants.
Although we made progress during the fourth quarter, I am not satisfied by our same-store sales results, said Chief Executive Officer and President Kerrii Anderson.
During the fourth quarter, Wendy's promoted its Jalapeno Cheddar Double Melt premium hamburger and highlighted its combo choices which allow customers to mix-and-match their favorite side items.
The fast food chain plans to focus on attracting new and important customer segments while we generate growth with a back-to-basics emphasis on how we are different, special and better, added Anderson.
Wendy's stock closed down 6.1 percent, or $1.52, to $23.34 on the New York Stock Exchange.
Wendy's is introducing the new 99-cent Stack Attack double cheeseburger to broaden the way people think about value from Wendy's, according Paul Kerchisnik, Senior Vice President of Marketing.
With the launch of the Stack Attack, we're giving our customers more value and more choices at a time when gasoline prices remain high and they may be experiencing continued financial pressures.
In early 2008, Wendy's will also continue to promote its large, premium hamburgers made with fresh beef. In addition, the company will emphasize its new breakfast menu in certain markets that have a heavy concentration of company-owned restaurants.