Domino’s Pizza Orders Hurt by a Lack of Staff at Restaurants
(Bloomberg) -- Domino’s Pizza Inc. can’t get enough people to cook and deliver pizzas, hurting sales in the company’s most recent quarter.
“Our U.S. order counts during third quarter were pressured by a very challenging staffing environment,” Treasurer Jessica Parrish said Thursday on a conference call to discuss earnings results. A lack of workers meant some stores were forced to shorten hours, while others had customer-service challenges, she added.
The company posted a 1.9% drop in same-store sales in its home market for the period ended Sept. 12, missing analysts’ estimates for an increase. Despite a hike in wages at Domino’s company-owned stores, Domino’s “continued to experience staffing shortages” in certain locations, Parrish said.
Domino’s shares erased an earlier loss on Thursday, rising 2.1% to $486.13 at 11:38 a.m. in New York. The stock has gained about 27% this year, outpacing the 18% rise of the S&P 500 index, amid optimism that the company can maintain the strong sales it generated during coronavirus lockdowns.
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