The Wendy's Co. and REEF, one of the largest operators of mobility, logistics hubs and kitchens, has plans to develop and operate 700 delivery kitchens over the next five years across the United States, Canada and the United Kingdom.
“The demand for convenient delivery solutions means we must look for opportunities beyond our traditional restaurant formats, especially in dense urban areas," said Abigail Pringle, Wendy's president, international and chief development officer.
REEF Kitchens are placed to create shorter deliveries in neighborhoods.
The expansion is part of the food chains positive results. Wendy's posted revenues of $493.34 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 7.17 percent. This compares to year-ago revenues of $402.31 million. The company has topped consensus revenue estimates two times over the past four quarters.
"In the United States, we achieved double-digit one and two year same-restaura