Business
Shaky Consumers Flatten Domino’s Sales, Stock Price
Tanking consumer sentiment, rising gas prices and heightened competition is taking a bite out of Domino’s business.
Domino’s Pizza shares fell 10% Monday after the company revised down its U.S. same-store sales growth estimates for the year. The chain said sales softened, particularly in March. Executives said that U.S. consumer sentiment has fallen to levels last seen at the height of the Covid-19 pandemic, with lower-income shoppers particularly pulling back.
“Believe me, I was not pleased with our results,” CEO Russell Weiner said during an investor call.
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