Wendy’s has announced a new promotion: unlimited $1 Frosty treats available for the rest of the summer. This announcement follows the fast-food chain’s underwhelming Q2 earnings. Here’s what we know about the offer.
Unlimited $1 Frosty Treats
Wendy’s revealed in a press release that it will be offering this special deal to customers nationwide.
“As summer ends, Wendy’s is giving fans a celebratory treat that can’t be beat,” the company stated. “Fans can choose between the Classic Chocolate Frosty or enjoy the seasonally inspired Triple Berry Frosty, while supplies last. The Triple Berry Frosty combines the flavors of strawberry, blackberry, and raspberry into one summer treat.”
From now until September 15, small Frosty treats will be available for $1 at participating Wendy’s locations. Whether you prefer to scoop, dip, or drink it, the Frosty remains a popular choice.
Customers can also download the Wendy’s app to accrue Rewards points—10 points for every dollar spent—which can be redeemed for free items. To get the best value, customers can stack qualifying rewards and deals.
Addressing Q2 Earnings Shortfall
This Frosty promotion follows Wendy’s disappointing Q2 earnings report, where the company fell short of forecasts. Wendy’s is also betting on its consistently strong breakfast offerings to improve its financial performance.
In addition to the Frosty promotion, Wendy’s has introduced $1 Honey Buddies (formerly the Honey Butter Chicken Biscuit), available until September 30. This, too, aims to boost sales after the earnings miss.
Q2 Earnings Details
Wendy’s is focusing on its breakfast strategy to recover from its Q2 earnings slump. Despite the overall poor performance, breakfast remained a strong segment for the company.
“Breakfast remains an incredibly important part of our business,” said Wendy’s CEO Kirk Tanner during the earnings call. “It is highly profitable, and we have not yet reached our potential.”
In the second quarter, Wendy’s reported revenue of approximately $570 million, or about 27 cents per share, slightly below the projected $577 million, or 28 cents per share.
With over 7,000 locations and 99 new ones opened this year, Wendy’s plans to open 250–300 new outlets by the end of 2024.
The company’s value meals are proving competitive, offering deals like the $3 breakfast bundle, the $5 Biggie Bag, and the 4 for $4 dinner deal.
Breakfast Strategy
Wendy’s continues to outperform competitors in the breakfast segment. “We continue to drive breakfast dollar growth ahead of the category,” Tanner noted. “We expect breakfast sales growth to outpace the rest of the day at Wendy’s.”
To extend its “breakfast advertising investment horizon beyond 2025,” Wendy’s has reduced its 2024 investment level. The company plans to invest over $25 million in breakfast during this time, reflecting high market optimism.
By offering deals like the $1 Frosty and focusing on breakfast, Wendy’s hopes to recover from its recent earnings shortfall and attract more customers.