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Burger King has removed its most famous sandwich, the Whopper, from discount menus and would raise prices again this year to offset higher costs.
The fast-food chain, which caters to lower-income customers, used to offer the Whopper in its two for $5 deal and could still offer limited discounts on the burger in the future.
Jose Cil, CEO of Restaurant Brands, Burger King's parent, said the iconic Whopper has "been on this core discount platform for too long,"
Burger King also said it would stop selling some less-popular menu items altogether, including sundaes, whipped toppings, and chocolate milk.
Cil declined to provide timelines for overall price hikes in 2022.
Cost for shipping, labor, and commodities including chicken, coffee, and cooking oils have increased amid COVID-19 related disruptions, prompting restaurant chains to raise prices.
The Toronto, Ontario-based Restaurant Brands reported total revenue of $1.55 billion, above estimates of $1.52 billion.
The US.-listed shares of Restaurant Brands rose over 3 percent after it topped results estimates for the fourth quarter ended Dec. 31, led by soaring online sales and same-store sales growth at Burger King in the US and Tim Hortons in Canada.
Restaurant Brands posted per-share earnings of 74 cents in the fourth quarter, surpassing Refinitiv estimates of 69 cents.
