Pizzas Trump Burgers For The First Time In Two Years
Indians have grown a larger appetite for pizzas than burgers as discretionary spending picks up after a two-year lull.
At least the same-store sales growth suggest so. Jubilant Foodworks Ltd., the operator of Domino’s Pizza outlets in India, reported a 26.5 percent growth in the January-March quarter, according to its exchange filing. In comparison, same-store sales of Westlife Development Ltd., which runs McDonald’s stores in south and west India, rose 25.1 percent during the period. That’s the first time in at least 10 quarters that the pizza chain has outperformed the burger giant.
The growth was the highest in more than two years for both as they reported a double-digit rise for the second straight quarter. An indicator that urban discretionary consumption is improving.
Shares of the two companies tracked the trend. Jubilant Foodworks has gained nearly 40 percent compared with Westlife’s 17.2 percent so far this year.