Wendy's plans to close hundreds of U.S. restaurants in the coming months as revenue and profits decline, with the company citing cutbacks by lower-income consumers that it expects will persist through year's end.

On a Friday investor call, Ken Cook, Wendy's interim CEO, didn't disclose the exact number or locations of restaurants that it plans to shutter. But he said the Dublin, Ohio-based company is likely to close in the "mid-single digit percentage" of its 6,011 U.S locations, or roughly 300 store closures if it shuts 5% of its existing restaurants.

Wendy's said the closures will start in the fourth quarter this year. Closing underperforming locations will improve traffic and profitability at its remaining U.S. restaurants, Cook added.

Fast-food chains have been struggling to lift sa

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