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Fast food giant Wendys Co (NASDAQ:WEN) caused quite a stir online and on social media with reports that the company would offer dynamic pricing and potentially raise prices during periods of high demand.
The company is now walking back its original comments.
What Happened: The restaurant company recently reported fourth-quarter financial results, which also included comments from new CEO Kirk Tanner on digital business initiatives such as new menu boards.
"Beginning as early as 2025, we will begin testing more enhanced features like dynamic pricing and daypart offerings, along with AI-enabled menu changes and suggestive selling," Tanner said during the earnings call.
The mention of dynamic pricing led to many suggesting that Wendy's would raise prices during periods of high demand, which is similar to surge pricing used by ride-share companies like Uber and Lyft.
"To clarify, Wendy's will not implement surge pricing, which is the practice of raising prices when demand is highest," company...