Wendy's Is Getting a Makeover: CEO
"Certainly, it's a challenging economic environment out there," Brolich said. "But, remember, this is a very large marketplace, and there's always been an opportunity for excellent success for those brands that are relevant to consumers. We believe we can be one of those brands."
Wendy's plans to improve its brand to compete more effectively with the likes of McDonald's and Chipotle in part by revamping its restaurants. Brolich said it will have 200 refreshed stores this year and 400 in 2014.
"We really feel this is the fundamental part of our brand transformation and is very consistent with how we're positioning our brand as a cut above in the marketplace," he added.
(Read More: McDonald's Sales Slip 0.6% in April)
The company expects its overhaul to lead to a significant sales growth. Same-store sales at company-owned restaurants rose 1 percent in the first quarter, but Wendy's forecasts growth of 2 percent to 3 percent for the year.
It is launching products that "will resonate very strongly with consumers," which makes the company confident about better sales growth, Brolich said.