Wendy's to close hundreds of restaurants as company looks to focus on value to boost sales

Fast-food giant Wendy's will close hundreds of its U.S. restaurants as it looks to focus on value and boost lagging sales in the domestic market.

In the October through December quarter, the fast-food giant reported same-store sales, or sales at restaurants open for at least one year, declined 11.3% in the U.S.

While Wendy's previously announced late last year its intent to close underperforming restaurants, interim CEO Ken Cook provided more details on Friday during the company's call with investors.