With consumer confidence edging lower in July, fast-food chains have resorted to cutting menu prices and adding value meals to draw in crowds. Domino's Pizza...
, beating estimates over profits of $4.03 per share, surpassing estimates of $3.70, but revenue missing estimates with $1.09 billion against an estimated $1.1 billiontalks with Domino 's CEO Russell Weiner at the New York Stock exchange to talk about the performance of the company and give insight into the state of the consumer.
On pricing, after reports of consumer confidence trending lower, Weiner states:"We actually purposely didn't take price after that. And actually when we look at our value scores, one of the reasons we drove order counts, other folks are losing orders is because we stayed in value. People still want to eat out, you just got to give them a reason."I'm Berba Joining you live from the New York Stock Exchange alongside Domino's CEO Russell Wiener Russell.
You've taken a little bit too much price, Um, and so that's why you're seeing a lot of the deals that you're seeing.The the beauty with us is we took prices when we needed to a couple of years ago, but then we stopped.OK, hey, maybe you can get this item a little bit cheaper at Domino's.And so the fact that our value is not whip lashing people like it's always been here where it can be counted on and you can you can get what you want has been really important.
"Some borrowers are going to see more money in their pocket, and some are going to see a little bit of a boost in the equity they're building up."Berkshire Hathaway trimmed its holdings of Bank of America stock for the first time in at least four years. U.S. Bancorp, Wells Fargo, Bank of New York Mellon, and HP Inc. were once large positions at Berkshire and have been eliminated. The risk of further sales appears to be depressing Bank of America stock, which was off 1.
Domino's Pizza Consumer Confidence Value Meals Domino Menu Prices Fast-Food Chains Estimates
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