Wendy's (WEN) earnings: The stock rally behind the 11% sales drop

US traffic plummeted and hundreds of stores are closing, yet the stock rallied 5% as investors bet the worst is finally over for Wendy's (WEN) in Q4 FY2025.In ~10 minutes:- The "SpongeBob hangover" sales collapse (-11.3%)- "System Optimization": closing 5-6% of US stores- The quiet retreat from the breakfast wars- Why 2026 is explicitly a "rebuilding year"Management is framing the massive footprint reduction as efficiency, but allowing franchisees to cut breakfast hours signals a strategic withdrawal. The Interim CEO is rebuilding the plane while it nosedives, but the market seems to believe the bottom is in.Wendy's Company (WEN) | Q4 FY2025AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.