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Wendy\u2019s just lost its spot as America\u2019s No. 2 burger chain. Same-store sales fell 7% and traffic dropped 12.5% in the second quarter, the company\u2019s sixth straight quarterly decline, according to Restaurant Business<\/a>. It\u2019s been a rough go for the burger dynasty. Wendy\u2019s has closed 245 restaurants so far this year. Meanwhile, Burger King\u2019s sales jumped 8.5% last quarter, enough to push Wendy\u2019s into second place behind McDonald\u2019s.<\/p>\n Bob Wright, who took over as Wendy\u2019s CEO in May after leading Potbelly through a turnaround and a $566 million sale, didn\u2019t hold back about what went wrong. \u201cOur quality differentiation has eroded, our value proposition has weakened, and we have not consistently delivered the experience customers expect from Wendy\u2019s,\u201d he said.<\/p>\n Wright pointed to a mix of problems, including reduced discounting that hurt traffic, a \u201cMinions and Monsters\u201d promotion that fizzled, and a struggling breakfast daypart (an industry term for a specific time segment) that some franchisees have opted out of entirely. His fix centers on what he calls \u201cintrinsic value,\u201d food good enough that customers feel like they got more than they paid for, paired with everyday deals and stronger marketing. \u201cIt\u2019s going to take time,\u201d Wright said. \u201cBut these issues are within our control.\u201d<\/p>\n