Wendy's Announces 190 New Burger Chain Outlets In Italy and Armenia: Retail View Turns Bullish

The expansion is part of the company's plan to reach 2,000 international restaurant locations by 2028.

Wendy's said on Tuesday that it has signed franchise agreements to open 190 new restaurant joints in Italy and Armenia, but the stock did not budge.

The burger chain's shares fell 3.6%, marking the third-straight session of losses.

According to a statement, the company signed up with Your Food for 170 restaurants in Italy, to be opened by 2035. The first two locations under this partnership will open in Milan by mid-2026.

In Armenia, Wendy's has partnered with Wen Restaurant to open 20 restaurants by 2030. The first location is planned in the capital city of Yerevan.

The development comes just days after CEO Kirk Tanner announced his departure to Hershey (HSY), where he is set to take over as chief executive on August 18. Wendy's named CEO Ken Cook as its interim CEO.

That was the latest in a series of unfavorable developments for the chain, following the company's lowered full-year 2025 results outlook and reduction in its quarterly dividend in May.

Wendy's shares are down 35.5% year-to-date and are trading near a five-year low.

On Stocktwits, the retail sentiment for the company shifted to 'bullish' as of early Wednesday, from 'neutral' the previous day, after the expansion news. However, user messages painted a glum outlook.

"CEOs always bail because they are not allowed," a user said, adding that the Peltz family, the majority owner, is calling the shots.

Another user said that "there is zero support/buying."

The latest expansion in Europe is part of the company's plan to reach 2,000 international restaurant locations by 2028, Wendy’s said.

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