Wendy's Plans Huge Expansion

(RTTNews) - Burger chain Wendy's Co. (WEN) is looking to add 1,000 new restaurants by 2020, as the burger chain reported its 16th quarterly same-restaurant sales growth.

Wendy's currently has just over 6,500 locations worldwide and wants to increase it to 7,500 units by 2020. The company plans to open at least 500 locations in North American and the rest internationally, where it now has 439 locations.

The Dublin-based burger chain said its same-restaurant sales, a key metric in restaurant business, increased 0.8 percent in fourth quarter. Wendy's expects comps increase between 2 percent and 3 percent in North America for this year.

"We have nice momentum as we head into 2017," said Todd Penegor, Wendy's chief executive.

Wendy's has been been working to reach towards that goal for about a year. The company has been remodeling or rebuilding older stores to expand its newer design.

Earlier, a Wendy's quick-service chain required at least an acre to build its traditional, standalone units. However, the new "smart design" allows to build a chain in smaller spaces.