Domino’s says consumers ‘seem to be seeing incrementally even more pressure’

Asked if anything has changed with the company’s thinking because of the consumer backdrop, executives from Domino’s Pizza stated in part, according to a transcript of the company’s presentation at the Piper Sandler Growth Frontiers Conference: “I think we’re really thrilled with the first half results that we generated and I think to see transaction growth in the environment in which we were operating was very, very reassuring for us and very much in line with the plans that we had at the beginning of the year. And to see it really come through both on the delivery business and the carryout business was also really exciting. And we said at the time, and I can confirm that like we’re expecting transaction growth in the back half as well in the business. And that’s been the strategy. That’s what we expect to see. What I would say is that we reported in mid-July and we’re pretty early because of our reporting calendar and we knew that the environment was going to be tough when we actually started the year and those expectations are played out by mid-July. But I think as the other players in the QSR space started reporting over the course of the next three weeks to four weeks, we realized that not just was the environment tough like we had expected it, but others in fact seem to be seeing incrementally even more pressure than we thought it was out there. And I think that’s really more the incremental learning since we reported. But our business is our business and our plans are our plan.”