In a move that seemed poised to take a huge bite out of sluggish sales, Wendy’s decided to tap into childhood nostalgia by launching a SpongeBob-themed burger. Sounds like a great idea, right? Who wouldn’t want to try the Krabby Patty we all dreamed of during those after-school SpongeBob marathons? Well unfortunately for Mr. Krabs, it didn’t work. In fact, it backfired. Big time.

Here’s the deal. Wendy’s has been struggling for a while. Like, really struggling. Over the last year, their stock has only gone up 6%, and sales aren’t looking much better. They even had to cut their sales forecast, now expecting just 2-4% growth for the year, which is down from an already disappointing 6%.

Inflation’s been biting into burger budgets, and low-income customers are cutting back. Not exactly what you want to hear when you’re in the business of flipping patties.

The SpongeBob burger was supposed to help. Wendy’s teamed up with Nickelodeon to celebrate the 25th anniversary of SpongeBob and launched what they called a “Krabby Patty,” complete with a secret sauce. But instead of creating excitement, they just created chaos on social media.

TikTok exploded with reviews, and none of them were good. One user straight-up called it “a sloppy, boring collab,” while another compared the experience to getting a meal at the Chum Bucket.

And it didn’t stop there. People were mad about the price, too. Turns out people don’t like paying $13 for a basic combo meal with zero fun packaging, no unique SpongeBob details, and honestly, no magic. One review said, “It’s just a Dave’s double burger”. It’s like Wendy’s slapped the SpongeBob name on a burger and called it a day, hoping people wouldn’t notice.

The disappointment didn’t just hurt their fans, it’s also not doing any favors for their stock. The negative press from this botched collab probably isn’t going to bring in new customers or investors. And with McDonald’s out here innovating with everything from breakfast menus to limited-edition items, Wendy’s just can’t afford to keep missing the mark.

So, where does this leave Wendy’s? Honestly, they’ve got some serious ground to make up. Sure, they’re trying to pump up their breakfast sales and push people toward app-based orders, but at this rate, it’s going to take a lot more than a SpongeBob burger to stop the bleeding.

Look, we all love a good dose of nostalgia. But slapping SpongeBob’s name on a lackluster burger without delivering the magic isn’t going to cut it. At the end of the day, fans wanted to relive their Krabby Patty dreams, but instead, they were left with a hefty bill and a whole lot of disappointment. And Wendy’s stockholders are probably feeling the exact same way.

Stock.News has positions in Wendy’s, McDonalds, and Nickelodeon as mentioned in the article.