10:40 AM EDT, 10/03/2025 (MT Newswires) -- Wendy's (WEN) is facing a challenging near-term sales setup as management pushes H2 sales projects into 2026 amid soft quick-service demand and heightened competition, Oppenheimer said in a note to clients Friday.

The investment firm cut its same-store-sales estimates for Wendy's to below Street forecasts for the rest of this year to reflect near-term headwinds.

Oppenheimer said it now expects Wendy's same-store-sales to fall 6.9% in Q3, versus consensus estimates of a 5.8% decrease. The firm is also forecasting a 10.5% drop in Q4, compared with Street estimates for a decrease of 8.6%.

The "lingering softness" in low-end consumer demand has led to "average flat" US same-store-sales for Wendy's and its peers McDonald's (MCD) and Restaurant Brands' (QSR) Burger King since beginning 2024, Oppenheimer said.

Oppenheimer maintained a perform rating on Wendy's.

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