Business News: Domino’s Pizza CEO says phone deliveries are almost outdated as digital sales keep rising.
The phone rings less and less in the Domino’s Pizza areas, yet the demand for company pies remains excessive, according to CEO Ritch Allison. More over 75% of Domino’s sales actually come from digital channels, and this is on the rise from 70% before the Covid pandemic, and it’s not going to reverse the pattern, Allison advised CNBC’s Jim Cramer on Thursday.
“As we look forward, those are the kinds of movements that happened during Covid that we don’t believe will come back,” he said in an interview with “Mad Money”. “Once customers switch to digital ordering, they never go back to calling restaurants on the phone.” The Michigan-based Ann Arbor company has invested heavily within the company over the past decade to bring it into the age of know-how.
With investments, Domino’s is increasing the dependency of its retailers and introducing new applied sciences to make ordering and receiving meals quicker and easier. In Houston, the company is testing an autonomous vehicle delivery system in partnership with Nuro.
“We feel really well positioned from From a technological standpoint, and with the market still very fragmented, there is a lot of share to be gained broadly across the market as we see it, ”Allison said.
Results reported by Domino from Thursday morning in the first quarter. Global retail sales increased by 16.7% from a year ago, while same-store sales in the US grew 13.4 percent, the company said. Domino shares were up 3% in trading on Thursday to come in at $ 415.98. The stock has risen 8.48% this year.