Overview
- Interim CEO Ken Cook outlined the U.S.-only plan on Nov. 7, targeting roughly 4% to 6% of the 6,011 domestic units for closure from the fourth quarter of 2025 through 2026.
- Management cites weakening U.S. performance, with comparable sales down about 4.7% in the third quarter and September visits off roughly 9.9%, according to Placer.ai.
- Underperforming restaurants will be evaluated for closure, remodels, or transfers to new operators, while remaining stores receive targeted technology and equipment upgrades plus lower‑priced menu options.
- Media reports note the stock fell 7% the trading day after the disclosure and another 6% the following Monday.
- International locations are not expected to be immediately affected, according to industry reporting, as the company concentrates on reallocating investment within the U.S. system.