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Domino's stock soars more than 25% on earnings beat; pizza chain backs long-term outlook

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“It’s not sales, it’s not store openings that we’re concerned about, it’s about the safety of our customers and our team members,” Domino’s Pizza CEO Ritch Allison told MadMoneyOnCNBC's JimCramer about the coronavirus outbreak.

and DoorDash, putting pressure on Domino's U.S. delivery sales.

The strong U.S. performance in the fourth quarter marked the first time in nearly two years that the pizza chain's same-store sales in its home market improved sequentially. Domino's reported U.S. same-store sales growth of 2.4% in the third quarter. In response to the new competition, the pizza chain has been trying to grow its carryout sales and cut delivery times by strategically adding more U.S. locations. In 2019, restaurants open at least a year grew their carryout sales by 3.9%. Allison said that pizza chain is trying to drive more customers to place their carryout orders digitally, citing the opportunity for "smarter" ways to encourage customers to spend more.Allison teased a new menu product coming this summer.

 

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