#Domino&x27;s Pizza Inc

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Stock futures fall to start week with key inflation data, earnings ahead

Stock futures fall to start week with key inflation data, earnings ahead

Stock futures were lower Monday morning as the markets come out of a tumultuous week and traders look ahead to key reports coming in the next week that can offer insights into the health of the economy. Futures connected to the Dow Jones Industrial Average slid 28 points. S&P 500 futures were lower by 0.18%, while Nasdaq 100 futures fell 0.30%. Market observers generally consider the week ahead…

[reportwire]

Here are six restaurant chains with new leaders

Here are six restaurant chains with new leaders

Restaurant CEOs are the latest wave of workers to join the Great Resignation. In the last six months, six chief executives of publicly traded restaurant companies have announced plans to step down, either to retire or to move on to a new corporate challenge. Their announcements came after a tumultuous two years for the restaurant industry, which battled for its survival through pandemic…

[hummingzone]

Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costs

Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costs

A employee sprinkles cheese on a burrito at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Consumer brands from Chipotle Mexican Grill to Whirlpool are dealing with inflation by passing higher costs onto their customers through price hikes. Many companies that reported quarterly results in the past two weeks said they’re raising prices…

[freenewstoday]

New Post has been published on https://freenews.today/2021/02/25/dominos-pizza-earnings-miss-as-u-s-same-store-sales-growth-slows-pizza-chains-shares-fall/

Domino's Pizza earnings miss as U.S. same-store sales growth slows, pizza chain's shares fall

An employee removes a pizza from the oven at a Domino’s Pizza restaurant in Rantoul, Illinois.

Daniel Acker | Bloomberg | Getty Images

Domino’s Pizza on Thursday reported quarterly earnings that missed estimates as pandemic costs weighed on profits and U.S. same-store sales growth slowed.

The pizza chain also released a new outlook for the next two to three years.

Shares of the company fell about 6% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $3.46 adjusted vs. $3.89 expected

Revenue: $1.36 billion vs. $1.39 billion expected

The pizza chain reported fiscal fourth-quarter net income of $151.9 million, or $3.85 per share, up from $129.3 million, or $3.12 per share, a year earlier. Performance-based expenses and costs related the coronavirus pandemic, including enhanced pay and bonuses for restaurant workers, weighed on profits.

Excluding the impact of a 53rd week, Domino’s earned $3.46 per share, missing the $3.89 per share expected by analysts surveyed by Refinitiv.

Net sales rose 17.9% to $1.36 billion, falling short of expectations of $1.39 billion. U.S. same-store sales increased by 11.2%, down from third quarter’s 17.5% growth. International same-store sales climbed by 7.3%.

Domino’s also said it made a $40 million investment in Dash Brands, the privately held company that serves as the pizza chain’s franchisee in China. Domino’s first invested in Dash in the second quarter of 2020, acquiring a noncontrolling stake for $40 million.

The company’s new two- to three-year outlook projects net unit growth of 6% to 8% and global retail sales growth of 6% to 10%, excluding foreign currency.

A day before the earnings report, its board reauthorized $1 billion in stock buybacks.

Rival Papa John’s on Thursday also reported quarterly earnings that missed estimates.

Read the full report here.

Source

[reportwire]

Starbucks hikes wages, will hit $15 an hour in 2022

Starbucks hikes wages, will hit $15 an hour in 2022

A ‘We’re Hiring!’ sign is posted at a Starbucks on August 06, 2021 in Los Angeles, California. Mario Tama | Getty Images Starbucks announced Wednesday it will raise wages for its U.S. baristas at least twice in 2022, bringing its pay floor to $15 an hour by the summer. The announcement comes as bars and restaurants struggle to find enough willing workers to staff their eateries as demand…

[latestbreakingnewsupdates]

Domino's Pizza U.S. same-store sales soar 16% as more consumers order delivery

Domino’s Pizza U.S. same-store sales soar 16% as more consumers order delivery

An worker strikes a pizza to an oven at a Domino’s Pizza Inc. restaurant in Chantilly, Virginia.

Andrew Harrer | Bloomberg | Getty Images

Domino’s Pizza on Thursday reported that its quarterly U.S. same-store sales soared 16.1% as more consumers ordered pizza delivery and takeout through the coronavirus pandemic.

Shares of the corporate rose more than 1% in premarket buying and selling.

[bengalbytes]

Beyond the punch card: Restaurants lean into loyalty programs to hold onto pandemic digital gains

Beyond the punch card: Restaurants lean into loyalty programs to hold onto pandemic digital gains

An employee carries an order for a customer at a Domino’s Pizza restaurant in Detroit. Sean Proctor | Bloomberg | Getty Images Forget the battle for chicken sandwich supremacy. The loyalty program wars are coming. Restaurant digital orders surged 124% in the year ended in March, according to market researcher NPD Group. And the skyrocketing popularity of online ordering during the coronavirus…

[hellodainiknews]

How Domino’s beat Papa John’s and Pizza Hut in India’s pizza… When it comes to pizza in India, Domino's Pizza is the clear leader. The restaurant chain found its success in India the same way it won the pizza wars in the United States: delivery and technology.

[freenewstoday]

New Post has been published on https://freenews.today/2021/02/05/super-bowl-sunday-drives-restaurant-sales-for-the-chains-already-seeing-soaring-demand/

Super Bowl Sunday drives restaurant sales for the chains already seeing soaring demand

National Football League fans convene in downtown Tampa ahead of Super Bowl LV during the COVID-19 pandemic on January 30, 2021 in Tampa, Florida.

Octavio Jones | Getty Images

Super Bowl Sunday is a big day for football — and restaurants.

But the chains that will likely benefit the most from feeding hungry fans have already seen their sales soar during the coronavirus pandemic.

Only Thanksgiving tops Super Bowl Sunday as the largest eating holiday, according the U.S. Department of Agriculture. The big game drew more than 100 million viewers last year. Non-football fans tune into the NFL championship for interesting commercials, an entertaining half-time show and the food spread at watch parties.

For Yum Brands’ Pizza Hut, Super Bowl Sunday is its busiest day of the year. Domino’s Pizza typically delivers about 2 million pies that day, up 30% from a typical Sunday. Fat Brands, which owns Hurricane Grill & Wings, Buffalo’s Cafe and Buffalo’s Express locations, sells half a million chicken wings on Super Bowl Sundays. For Wingstop, it ranks among its top five sales days annually.

Throughout the pandemic, pizza and chicken wings have been staples of Americans’ quarantine diet. Both are known for traveling well, and the categories’ biggest players have been working on making their food more convenient for years.

In its fourth quarter, Pizza Hut reported U.S. same-store sales growth of 8%. Domino’s has seen U.S. same-store sales growth hit double digits during its second and third quarters. And Wingstop, which was already outpacing the rest of the industry’s sales growth before the crisis, reported that its same-store sales soared 25% in the third quarter.

“If what we’ve just experienced over the past 12 months is any indication — beating the industry in sales — we expect that to continue this Sunday,” said Brian Gies, global chief marketing officer of Church’s Chicken.

Church’s Chicken, which serves chicken tenders and boneless wings, launched its Texas Tenders ‘N Shrimp meal in time for the Super Bowl this year to capitalize on that demand. The menu item was created to appeal to customers who observe Lent, which doesn’t start until Feb. 17.

Wingstop CEO Charlie Morrison said through a spokesperson that the company is still expecting strong sales for the big game. Compared with years past, however, the chicken wing chain may receive more orders and a lower average check because of the reduced size of gatherings. The Centers for Disease Control and Prevention has recommended minimizing the guest lists for watch parties and holding celebrations outdoors or virtually.

“I think it’s going to be a very big weekend for us, and I think that sales will be off the charts,” said Fat Brands CEO Andy Wiederhorn.

Supply chains under pressure

The pandemic has also resulted in supply chain challenges for the restaurant companies awaiting a busy Super Bowl. Prices for mozzarella cheese are up, which will hit pizza chains’ profits. For the first week of February, Wisconsin wholesale prices for a pound of mozzarella cheese rose as high as $2.70, according to U.S. Department of Agriculture report released Wednesday. In February 2019, mozzarella prices averaged about $2.15 per pound.

Chicken wing chains are under even more pressure. Wholesale prices are up, and restaurant operators are reporting shortages.

Wiederhorn said that the company usually sees a tight supply this time of year anyway.

“The only time it wasn’t a battle was when McDonald’s entered the chicken wing business, like seven or eight years ago, and it failed miserably. They dumped all of the wings on the market because they had to get rid of them,” Wiederhorn said.

As a result, Fat Brands starts planning its Super Bowl wing orders a year in advance. But the supply problem is particularly bad this year, as a result of outbreaks at meat processing plants and higher demand for chicken wings driven by elevated delivery sales for the category. Fat Brands is bringing in some frozen chicken wings to supplement its usual supply of fresh wings.

Source

[b360news]

‘We’re not slowing down at all’ As the coronavirus forces countless businesses to cut back on advertising, Domino's Pizza is staying the course.

[mrhfz90]

Gone but not for good: Restaurants try to keep in touch with furloughed workers

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At 115 years old, Columbia Restaurant Group’s flagship location in Tampa is the oldest restaurant in Florida.

The eatery has survived the 1918 flu pandemic, the Great Depression and two world wars. But on March 20, it temporarily shuttered nine locations and furloughed 90% of its workforce after Gov. Ron Santis closed the state’s dining rooms. 

“We have people who have been with us 10,…

[nilnews4]

CVS Health looking to fill 50,000 jobs to meet demand

A driver unloads merchandise from a delivery truck outside a CVS Health Corp. location in New Rochelle, New York, U.S., on Monday, March 16, 2020.

Angus Mordant | Bloomberg | Getty Images

CVS Health said it plans to immediately fill 50,000 jobs across the U.S. to keep up with a demand for over-the-counter medicines, prescriptions and other items during the coronavirus outbreak. 

In a news…

[b360news]

Stop buying index funds and buy these ‘Covid winners’ CNBC's Jim Cramer on Thursday laid out two buckets of stocks that he recommends investors consider adding to their portfolios.