The company that owns Burger King, Restaurant Brands International Inc., announced on Tuesday that it has removed its most famous hamburger, the Whopper, from its discount menus, in addition to raising menu prices in general this year to offset the higher costs they are facing.
The company’s US-listed shares rose more than 3% after beating earnings estimates for the fourth quarter ended 31 in December, which were driven by increased sales online and in physical stores at Burger King branches in the United States and Tim Hortons in Canada.
Restaurant chains are raising prices because they are paying higher costs for shipping, for labor and for the basic products to prepare their dishes, including chicken, coffee and cooking oils. Cook. All for COVID-Related Outages-31.
On the other hand, the levels of inflation and the lack of personnel due to the Omicron variant affected the profits of McDonald’s and the Starbucks coffee chain.
Restaurant Brands CEO José Cil said the Burger King Whopper, which carries a quarter-pound of grilled beef, is an iconic product that has been discounted for too long .
The chain, which often caters to low-income customers, removed the hamburger offer, where it gave two for $5 dollars.
Burger King also said it would stop selling some less popular menu items, including ice cream and chocolate milk, Reuters reported.
José Cil did not say when he would start implementing this year’s price increases.
Restaurant Brands, based in Toronto, Ontario, repo reported total revenue of $1,550 million, a figure that is above their estimates, which was $1,520 millions.
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