DUBLIN, Ohio (COLUMBUS BUSINESS FIRST) — Wendy’s Co. continues to grow sales, but it’s also starting to increase prices.
The Dublin-based restaurant chain Wednesday reported its first-quarter results. Though it is gaining market share in key categories, rising costs of labor and food are leading to price increases.
“We need to be smart about it,” CEO Todd Penegor said of the decision during a conference call with stock analysts.
CFO Gunther Plosch, also on the call, said commodity costs are up by a high teens percentage while labor is up in the mid teens. Prices meanwhile have been upped by a mid-to high-single digit.
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