Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing."<o:p></o:p>

According to a Reuters report, concerns arose after Tanner hinted at the possibility of testing surge pricing similar to practices seen in Uber and the airline industry, where prices fluctuate based on demand.

This announcement drew criticism from online communities, with some customers expressing outrage over perceived price gouging. <o:p></o:p>

In response to the backlash, Wendy's reassured patrons that there are no intentions to hike prices during peak hours of customer visits. <o:p></o:p>

The company said that it aims to leverage digital menu boards to offer discounts during slower periods.<o:p></o:p>

CEO Kirk Tanner's remarks about exploring dynamic pricing mechanisms sparked debates within the industry and among consumers. <o:p></o:p>

While such strategies have seen success in sectors like airlines, restaurant analysts remain sceptical about its viability in the food industry. <o:p></o:p>

Reuters cited Victor Fernandez, a senior analyst at Black Box Intelligence, who expressed doubts about customer acceptance, particularly amid recent price hikes across the food service sector. <o:p></o:p>

Similarly, Michael Lukianoff, CEO of SignalFlare.ai, highlighted potential repercussions, suggesting that customers might seek alternatives if subjected to dynamic pricing. <o:p></o:p>

US Senator Elizabeth Warren weighed in on the controversy, condemning Wendy's dynamic pricing plans as "price gouging plain and simple." <o:p></o:p>

Warren's comments echoed sentiments among consumers who view surge pricing as exploitative. <o:p></o:p>

The backlash comes at a challenging time for Wendy's, with recent data indicating a slowdown in store visits during the fourth quarter of 2023. <o:p></o:p>

Despite efforts to address cost pressures, including a profit forecast for the current year below Wall Street expectations, Wendy's faces ongoing challenges posed by rising commodity and labour costs. <o:p></o:p>

The company's shares, which experienced a 14 per cent decline in 2023, saw a slight increase by 2 per cent following the reassurance regarding pricing policies. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing.

Wendy's, the renowned burger chain, has responded to a social media uproar following comments made by its CEO, Kirk Tanner, over the possible implementation of "dynamic pricing." According to a Reuters report, concerns arose after Tanner hinted at the possibility of testing surge pricing similar to practices seen in Uber and the airline industry, where prices fluctuate based on demand. This announcement drew criticism from online communities, with some customers expressing outrage over perceived price gouging. In response to the backlash, Wendy's reassured patrons that there are no intentions to hike prices during peak hours of customer visits. The company said that it aims to leverage digital menu boards to offer discounts during slower periods. CEO Kirk Tanner's remarks about exploring dynamic pricing mechanisms sparked debates within the industry and among consumers. While such strategies have seen success in sectors like airlines, restaurant analysts remain sceptical about its viability in the food industry. Reuters cited Victor Fernandez, a senior analyst at Black Box Intelligence, who expressed doubts about customer acceptance, particularly amid recent price hikes across the food service sector. Similarly, Michael Lukianoff, CEO of SignalFlare.ai, highlighted potential repercussions, suggesting that customers might seek alternatives if subjected to dynamic pricing. US Senator Elizabeth Warren weighed in on the controversy, condemning Wendy's dynamic pricing plans as "price gouging plain and simple." Warren's comments echoed sentiments among consumers who view surge pricing as exploitative. The backlash comes at a challenging time for Wendy's, with recent data indicating a slowdown in store visits during the fourth quarter of 2023. Despite efforts to address cost pressures, including a profit forecast for the current year below Wall Street expectations, Wendy's faces ongoing challenges posed by rising commodity and labour costs. The company's shares, which experienced a 14 per cent decline in 2023, saw a slight increase by 2 per cent following the reassurance regarding pricing policies. (With inputs from Reuters)

Wendy's promises no surge pricing for burgers amid backlash over CEO's comments

Wendy's, the popular fast-food chain, is set to experiment with an "Uber-style" surge-pricing model, where the prices of its menu items will fluctuate based on demand throughout the day. <o:p></o:p>

As per a New York post report, CEO Kirk Tanner announced this move during a call with investors, revealing plans to invest $20 million in high-tech menu boards capable of real-time price updates. <o:p></o:p>

The surge-pricing model aims to capitalise on peak hours, potentially increasing costs for already inflation-burdened consumers who may not have the flexibility to dine during off-peak times. <o:p></o:p>

Wendy's, with over 6,000 locations nationwide, plans to roll out this pricing strategy next year, raising concerns about how it might impact consumer behaviour and satisfaction.<o:p></o:p>

According to the New York Post, Tanner stated that as they persist in demonstrating the advantages of this technology in their company-operated restaurants, there should be a subsequent increase in franchisee interest in digital menu boards, further bolstering sales and profit growth across the system.<o:p></o:p>

The $20 million investment will facilitate the installation of digital menu boards capable of dynamically adjusting prices without incurring additional overhead costs. <o:p></o:p>

While Tanner did not provide specifics on potential price spikes or reductions during slower periods, Wendy's representatives highlighted the flexibility dynamic pricing offers, aiming to stay competitive and provide value to customers. <o:p></o:p>

The fast-food giant plans to test various features to enhance the overall customer and crew experience.<o:p></o:p>

Despite the potential benefits cited by Wendy's, concerns have been raised about the impact of dynamic pricing on consumers. <o:p></o:p>

Ted Jenkin, CEO of wealth management firm oXYGen Financial, expressed scepticism, stating, "Guess people better change their lunch hours from 2 pm to 4 pm." <o:p></o:p>

Industry experts warn that the ever-shifting prices may lead to backlash, with restaurant analyst Mark Kalinowski cautioning that some people view dynamic pricing as a rip-off. <o:p></o:p>

Arlene Spiegel, a restaurant consultant, predicted that guests would be upset by unexpected price fluctuations. <o:p></o:p>

Wendy's move comes as the restaurant industry explores dynamic pricing, inspired by the success witnessed in the airline, hotel, and transportation sectors.<o:p></o:p>

Wendy's is currently the most expensive fast-food chain in the US, experiencing a 35 per cent increase in menu costs due to inflation between 2022 and 2023, according to data from consumer transparency platform PriceListo. <o:p></o:p>

Franchise owners contend that scheduling and reducing the workload of kitchen personnel during peak hours are more important goals of dynamic pricing than maximising earnings. 

As Wendy's prepares to test the surge-pricing model, competitors like McDonald's and Burger King are expected to closely monitor the experiment's impact on consumer behaviour and industry trends.<o:p></o:p>

Wendy's, the popular fast-food chain, is set to experiment with an "Uber-style" surge-pricing model, where the prices of its menu items will fluctuate based on demand throughout the day.

Wendy's, the popular fast-food chain, is set to experiment with an "Uber-style" surge-pricing model, where the prices of its menu items will fluctuate based on demand throughout the day. As per a New York post report, CEO Kirk Tanner announced this move during a call with investors, revealing plans to invest $20 million in high-tech menu boards capable of real-time price updates. The surge-pricing model aims to capitalise on peak hours, potentially increasing costs for already inflation-burdened consumers who may not have the flexibility to dine during off-peak times. Wendy's, with over 6,000 locations nationwide, plans to roll out this pricing strategy next year, raising concerns about how it might impact consumer behaviour and satisfaction. According to the New York Post, Tanner stated that as they persist in demonstrating the advantages of this technology in their company-operated restaurants, there should be a subsequent increase in franchisee interest in digital menu boards, further bolstering sales and profit growth across the system. The $20 million investment will facilitate the installation of digital menu boards capable of dynamically adjusting prices without incurring additional overhead costs. While Tanner did not provide specifics on potential price spikes or reductions during slower periods, Wendy's representatives highlighted the flexibility dynamic pricing offers, aiming to stay competitive and provide value to customers. The fast-food giant plans to test various features to enhance the overall customer and crew experience. Despite the potential benefits cited by Wendy's, concerns have been raised about the impact of dynamic pricing on consumers. Ted Jenkin, CEO of wealth management firm oXYGen Financial, expressed scepticism, stating, "Guess people better change their lunch hours from 2 pm to 4 pm." Industry experts warn that the ever-shifting prices may lead to backlash, with restaurant analyst Mark Kalinowski cautioning that some people view dynamic pricing as a rip-off. Arlene Spiegel, a restaurant consultant, predicted that guests would be upset by unexpected price fluctuations. Wendy's move comes as the restaurant industry explores dynamic pricing, inspired by the success witnessed in the airline, hotel, and transportation sectors. Wendy's is currently the most expensive fast-food chain in the US, experiencing a 35 per cent increase in menu costs due to inflation between 2022 and 2023, according to data from consumer transparency platform PriceListo. Franchise owners contend that scheduling and reducing the workload of kitchen personnel during peak hours are more important goals of dynamic pricing than maximising earnings. As Wendy's prepares to test the surge-pricing model, competitors like McDonald's and Burger King are expected to closely monitor the experiment's impact on consumer behaviour and industry trends.

Wendy's to introduce Uber-style 'Surge Pricing' on Burgers, prompting concerns

The Flynn Group, recognised as the world's largest franchisee operator of restaurants and fitness clubs, is reportedly exploring a majority stake sale that could potentially value the company at over $5 billion, including debt. <o:p></o:p>

Operating renowned franchises such as Applebee's, Taco Bell, Panera Bread, Arby's, Pizza Hut, Wendy's, and Planet Fitness, Flynn Group has enlisted the support of Bank of America for the sale process, according to sources familiar with the matter.<o:p></o:p>

Sources suggest that Flynn Group, based in San Francisco, generates an impressive annual earnings figure exceeding $450 million before interest, taxes, depreciation, and amortisation. <o:p></o:p>

Private equity firms and sovereign wealth funds are among the potential suitors for the majority stake, with the sale process attracting considerable interest. <o:p></o:p>

The Ontario Teachers' Pension Plan (OTPP) and private equity firm Main Post Partners, both investors in Flynn Group, may consider selling part of their stakes while remaining invested after the deal. <o:p></o:p>

Flynn Group's management, and significant shareholders in the company, may also follow a similar path.<o:p></o:p>

Flynn Group's ownership structure reveals that OTPP holds approximately a third of the company, while Main Post owns slightly over a third. <o:p></o:p>

The remaining stake is owned by Flynn Group's management. <o:p></o:p>

The potential sale offers an opportunity for stakeholders to reassess their positions and explore options for ongoing involvement in the company. <o:p></o:p>

As the sale process unfolds, representatives for Flynn Group, OTPP, Main Post, and Bank of America have refrained from providing comments, maintaining confidentiality around the matter.<o:p></o:p>

Founded in 1999 by commercial real estate investor Greg Flynn, Flynn Group has grown into a powerhouse in the franchise industry. <o:p></o:p>

The company currently operates a vast network of over 2,600 restaurants and fitness clubs across the United States and Australia, boasting annual sales exceeding $4.5 billion, as highlighted on its website. <o:p></o:p>

Ontario Teachers' Pension Plan made a significant investment of approximately $300 million in Flynn Group in 2014, valuing the company at over $1 billion at that time.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

The Flynn Group, recognised as the world's largest franchisee operator of restaurants and fitness clubs, is reportedly exploring a majority stake sale that could potentially value the company at over $5 billion, including debt.

The Flynn Group, recognised as the world's largest franchisee operator of restaurants and fitness clubs, is reportedly exploring a majority stake sale that could potentially value the company at over $5 billion, including debt. Operating renowned franchises such as Applebee's, Taco Bell, Panera Bread, Arby's, Pizza Hut, Wendy's, and Planet Fitness, Flynn Group has enlisted the support of Bank of America for the sale process, according to sources familiar with the matter. Sources suggest that Flynn Group, based in San Francisco, generates an impressive annual earnings figure exceeding $450 million before interest, taxes, depreciation, and amortisation. Private equity firms and sovereign wealth funds are among the potential suitors for the majority stake, with the sale process attracting considerable interest. The Ontario Teachers' Pension Plan (OTPP) and private equity firm Main Post Partners, both investors in Flynn Group, may consider selling part of their stakes while remaining invested after the deal. Flynn Group's management, and significant shareholders in the company, may also follow a similar path. Flynn Group's ownership structure reveals that OTPP holds approximately a third of the company, while Main Post owns slightly over a third. The remaining stake is owned by Flynn Group's management. The potential sale offers an opportunity for stakeholders to reassess their positions and explore options for ongoing involvement in the company. As the sale process unfolds, representatives for Flynn Group, OTPP, Main Post, and Bank of America have refrained from providing comments, maintaining confidentiality around the matter. Founded in 1999 by commercial real estate investor Greg Flynn, Flynn Group has grown into a powerhouse in the franchise industry. The company currently operates a vast network of over 2,600 restaurants and fitness clubs across the United States and Australia, boasting annual sales exceeding $4.5 billion, as highlighted on its website. Ontario Teachers' Pension Plan made a significant investment of approximately $300 million in Flynn Group in 2014, valuing the company at over $1 billion at that time. (With inputs from Reuters)

Flynn Group, the world's largest franchisee, explores potential $5 bn-plus sale

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Wendy's promises no surge pricing for burgers amid backlash over CEO's comments

Wendy's to introduce Uber-style 'Surge Pricing' on Burgers, prompting concerns

Flynn Group, the world's largest franchisee, explores potential $5 bn-plus sale