Wendy’s Co missed Wall Street estimates for quarterly results as fierce storms and freezing temperatures across the United States earlier this year hit store traffic and cooled demand for the burger chain’s breakfast items.
Shares of the Dublin, Ohio-based fast-food chain fell as much as 13 percent to hit an over two-year low on Wednesday, after the company said it now expects breakfast sales for the full year to linger toward the lower end of the 10 percent to 20 percent growth range it had projected earlier.
Analysts have said Wendy’s breakfast menu—known for items including the Baconator burger and Frosty-ccino coffees—could face pressure from consumers turning to cheaper meals as rising inflation hit Americans’ pockets.
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