Competitive DynamicsThere is a lack of confidence in BK's ability to combat peers' chicken-focused menu innovations, which are a structural growth category for quick service.
Consumer HeadwindsNew Canadian consumer headwinds, such as immigration reform and tariffs, pose risks to Tim's successful track record.
Geopolitical ChallengesResolution for the 50 bps development headwind from geopolitical challenges in the Middle East cited in 3Q24 remains opaque.