Domino's Pizza Inc on Tuesday reported same-store sales below Wall Street e...
) and small players like MOD Pizza and Blaze Pizza have all tied up with third-party apps to deliver food.
Ann Arbor, Michigan-based Domino’s has also been aggressively opening new restaurants in a move it calls “fortressing” to facilitate faster delivery to locations beyond homes and offices, ranging from beaches to bus stops. Same-store sales at restaurants open for more than an year in the United States rose 2.4%, its slowest growth in at least 15 quarters. Analysts had estimated a 2.84% rise, according to IBES data from Refinitiv.
The slowdown in the market came despite the company offering half-off on online orders for a week in August and launching a 20% off for late-night orders in September.The company’s net income rose to $86.4 million, or $2.05 per share, in the third quarter ended Sept. 8, from $84.1 million, or $1.95 per share, a year earlier.Reporting by Praveen Paramasivam in Bengaluru; Editing by Maju Samuel
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