While armed robbers might not like the taste of Domino’s pizza, the rest of the non-thieving world appears to be taking a liking to Domino’s recently revamped recipe and drastically dropped pricing. Want proof? The company’s fourth-quarter profits were double what they were a year ago.
For the three months ending Jan. 3, Domino’s reported a profit of $23.6 million. That’s more than double the $11 million profit for the same quarter last year.
“We’ve proven our business model works, even in the toughest of times,” Chairman and CEO David Brandon told reporters. “Sales and traffic are up significantly.”
In recent months, Domino’s has embarked on a major overhaul of its pizza, which had formerly been drubbed as bland and cardboard-like. And while the redo isn’t winning any James Beard awards, it has generally been considered a vast improvement.
To get the word out, Domino’s has also been offering deep-dish discounts on their pies. For example, they offer 2 medium pies with 2 toppings each for $11.98 total.
But will Domino’s be able to continue at this level?
“When a restaurant company radically changes their menu, usually there’s a curiosity bump involved in the results,” said Morningstar analyst R.J. Hottovy.
Domino’s profit more than doubles on new recipes [The Detroit News]