Showing the company logo above the entrance to the Domino Pizza restaurant, a major pizza restaurant chain with more than 15,000 places in the United States and internationally.
Melinda Crawford | UCG | Universal Image Group | Getty images
As the restaurant industry aims to woo auspicious consumers with exemption and deals, Domino pizza Thinks that it can steal dinner from its rivals.
“I think the headwinds of the industry are actually tailwinds for us. Meaning, of course, they are headwinds, but we are going to achieve [market] Share during this time limit, “CEO Russell Vener told CNBC on Monday.
Domino on Monday reported us of a similar-store sales increase of 3.4%, which topped the estimates of a 2% increase. Chen’s First stuffed crust pizzaWhich was introduced in March, promoted sales, but the deal offered Domino. Officials said Dominozed sales in all income corkets, including low -income customers, promoted industry trend.
“We are capable of bending in value in things on which people want the value,” Vaner said, the $ 9.99 naming the $ 9.99 of the “Best deal” propagated as an example.
He said, “The reason for this is that this is the best deal ever because right now everyone is giving you a deal on what you don’t want, something that can be your second choice,” he said.
From fast-food restaurant, McDonald’s To Yama brands KFC has been promoting value menu and combo food for more than a year to compete Sluggish trafficWhile fast-food chains typically see consumers trading for their cheap food during financial difficulty, dinner faced by high inflation dinner has been choosing to eat at home-or that they really think that they deserve their dollars.
Don’t look ahead of recent Chilli’s successWhich has posted the same-store sales growth in the last four quarters. After investing in its operations and menu, Chile has compared its value to its value with fast-food rivues; For only a few dollars more, customers can get full dine-in experience.
Wner said that he sees parallel to the domino business.
“It’s something systemic,” he said. “As long as the wages of the people do not return to the point where they are pricing, it is going to remain. That is why you are seeing what you are looking at in Chile, but that’s why you are going to see the positive items you are seeing in domino.”
Nevertheless, Domino has its own challenges. If the prices are very high for domino delivery customers, they will eat at home instead.
“We will lose an opportunity, not for a contestant, but on the occasion of eating at home,” Voner said.
Pizza Chen’s earnings also missed the expectations of Wall Street, who suffered a charge of $ 27.4 million from his investment in his China license. According to LSEG’s unanimous estimates, the company posted $ 3.81 per share as compared to estimates of $ 3.95. Revenue received from estimates from Wall Street of $ 1.15 billion.
The company’s shares fell over 2% in the afternoon trading on Monday.
Domino’s rivals are not expected to share the results of their second quarter for several and weeks. The owner of Pizza Hut Yama Brands will not report his earnings till 5 August, followed Papa Johns On 7 August.
