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Wendy's (WEN) to Boost Delivery Services With Pipedream Tie-Up
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The Wendy's Company (WEN - Free Report) recently announced partnership with Pipedream, a hyperlogistics company, to initiate the testing of underground delivery system. The concept is based on the idea of using autonomous robots to transport meals underground and deliver at the car-side Instant Pickup portal.
The initiative enhances digital customer offerings with a fast and convenient pick-up option and paves the path for increased efficiencies at restaurants by streamlining digital order pick-up points. The company stated the integration of the Pipedream's Instant Pickup system at its restaurant in the upcoming period.
Matt Spessard, senior vice president and global chief technology officer, The Wendy's Company, stated, "As mobile ordering preferences increase, we're thrilled to be the first quick service restaurant to partner with Pipedream, leveraging their unique delivery technology and system with the goal of reinventing digital pick-ups to bring more Wendy's to more people as quickly and efficiently as possible."
Emphasis on Digital Initiatives
Wendy’s is capitalizing on the benefits of technology. It is investing in areas like mobile payment, mobile ordering and customer self-order kiosks that provide benefits like consumer convenience, increased customer count, higher checks and faster speed of service. On the mobile ordering front, it is progressing rapidly to ensure the facility can explore additional prospects through mobile grab-and-go and curbside delivery, plus loyalty.
During the first quarter of 2023, the company announced partnership with Google to pilot Wendy's Fresh AI, a voice AI solution for drive-through ordering. Backed with Google Cloud's generative AI and large language models technology, the solution paves a path for fast and frictionless service offerings, customer satisfaction and profitability. The company is optimistic in this regard and anticipates launching the pilot in June 2023.
WEN intends to expand its delivery and mobile order access and efficiency, fine-tuning user experience and developing a one-to-one marketing program to boost digital business and drive growth. In 2023, the company anticipates digital sales of approximately $1.5 billion.
Image Source: Zacks Investment Research
In the past year, shares of the company have gained 42.6% compared with the industry’s 34.5% growth.
The Zacks Consensus Estimate for Chipotle’s 2024 sales and EPS suggests growth of 12.4% and 19.7%, respectively, from the year-ago period’s levels.
Arcos Dorados carries a Zacks Rank #2 (Buy). ARCO has a long-term earnings growth rate of 7.8%. The stock has gained 19.5% in the past year.
The Zacks Consensus Estimate for Arcos Dorados’ 2023 sales suggests growth of 13.4% from the year-ago period’s levels.
Chuy’s Holdings carries a Zacks Rank #2. CHUY has a trailing four-quarter earnings surprise of 23.4%, on average. Shares of CHUY have increased 82% in the past year.
The Zacks Consensus Estimate for Chuy’s Holdings 2023 sales and EPS suggests growth of 10.1% and 23.4%, respectively, from the year-ago period’s levels.
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Wendy's (WEN) to Boost Delivery Services With Pipedream Tie-Up
The Wendy's Company (WEN - Free Report) recently announced partnership with Pipedream, a hyperlogistics company, to initiate the testing of underground delivery system. The concept is based on the idea of using autonomous robots to transport meals underground and deliver at the car-side Instant Pickup portal.
The initiative enhances digital customer offerings with a fast and convenient pick-up option and paves the path for increased efficiencies at restaurants by streamlining digital order pick-up points. The company stated the integration of the Pipedream's Instant Pickup system at its restaurant in the upcoming period.
Matt Spessard, senior vice president and global chief technology officer, The Wendy's Company, stated, "As mobile ordering preferences increase, we're thrilled to be the first quick service restaurant to partner with Pipedream, leveraging their unique delivery technology and system with the goal of reinventing digital pick-ups to bring more Wendy's to more people as quickly and efficiently as possible."
Emphasis on Digital Initiatives
Wendy’s is capitalizing on the benefits of technology. It is investing in areas like mobile payment, mobile ordering and customer self-order kiosks that provide benefits like consumer convenience, increased customer count, higher checks and faster speed of service. On the mobile ordering front, it is progressing rapidly to ensure the facility can explore additional prospects through mobile grab-and-go and curbside delivery, plus loyalty.
During the first quarter of 2023, the company announced partnership with Google to pilot Wendy's Fresh AI, a voice AI solution for drive-through ordering. Backed with Google Cloud's generative AI and large language models technology, the solution paves a path for fast and frictionless service offerings, customer satisfaction and profitability. The company is optimistic in this regard and anticipates launching the pilot in June 2023.
WEN intends to expand its delivery and mobile order access and efficiency, fine-tuning user experience and developing a one-to-one marketing program to boost digital business and drive growth. In 2023, the company anticipates digital sales of approximately $1.5 billion.
Image Source: Zacks Investment Research
In the past year, shares of the company have gained 42.6% compared with the industry’s 34.5% growth.
Zacks Rank & Key Picks
Wendy's currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Zacks Retail-Wholesale sector are Chipotle Mexican Grill, Inc. (CMG - Free Report) , Arcos Dorados Holdings Inc. (ARCO - Free Report) and Chuy's Holdings, Inc. (CHUY - Free Report) .
Chipotle carries a Zacks Rank #1 (Strong Buy). CMG has a long-term earnings growth rate of 31.8%. The stock has improved 62% in the past year. You can see the complete list of today’s Zacks Rank #1 stocks here.
The Zacks Consensus Estimate for Chipotle’s 2024 sales and EPS suggests growth of 12.4% and 19.7%, respectively, from the year-ago period’s levels.
Arcos Dorados carries a Zacks Rank #2 (Buy). ARCO has a long-term earnings growth rate of 7.8%. The stock has gained 19.5% in the past year.
The Zacks Consensus Estimate for Arcos Dorados’ 2023 sales suggests growth of 13.4% from the year-ago period’s levels.
Chuy’s Holdings carries a Zacks Rank #2. CHUY has a trailing four-quarter earnings surprise of 23.4%, on average. Shares of CHUY have increased 82% in the past year.
The Zacks Consensus Estimate for Chuy’s Holdings 2023 sales and EPS suggests growth of 10.1% and 23.4%, respectively, from the year-ago period’s levels.