I think we can double this business
CNBC • • business
Key Points:
- Domino's Pizza shares rose after the company reported better-than-expected quarterly results, with same-store sales growth of 3.7% and revenue of $1.54 billion, surpassing analyst estimates.
- The company attributed its strong performance to increased transactions and greater appeal among lower-income customers through value offerings, driving growth primarily through higher traffic rather than order value.
- CEO Russell Weiner expressed confidence in doubling Domino's market share, citing the company's track record and competitive position amid struggles faced by major rivals Pizza Hut and Papa John's.
- Domino's growth strategy focuses on maintaining profitability with lower prices to attract more customers, a tactic Weiner calls "profit power," which contrasts with typical industry trends of raising prices.
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