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In a recent interview with CNBC’s Jim Cramer, Domino’s Pizza CEO Russell Weiner provided insights into the company’s performance during the last quarter, expressing a positive outlook for the remainder of the year, despite facing a mixed bag of results for the first quarter.
Weiner stated, “While we experienced some setbacks this quarter, we successfully expanded our market share. Over the 16 years I’ve been with the company, we’ve consistently grown our market share by nearly a percentage point each year.”
Domino’s reported a revenue shortfall and a decline in same-store sales on Monday. Nonetheless, the management team remains optimistic about future growth, citing in an official statement that the company is well-prepared to navigate a challenging global economic landscape. Although shares dipped initially, they recovered by the end of the trading day, finishing up 0.63%.
Weiner remarked that the first quarter was relatively quiet in terms of major initiatives, but emphasized new strategies aimed at enhancing business performance, including the launch of a Parmesan-stuffed crust pizza. He also announced a forthcoming collaboration with DoorDash to bolster delivery options.
Although Domino’s had previously hesitated to engage in the “aggregated marketplace,” Weiner noted its growing importance in the pizza ordering landscape. “We need to meet customers where they are,” he explained. He estimated that approximately $5 billion worth of pizza is sold in this marketplace, with Domino’s capturing about $1 billion of that segment. The CEO mentioned that while the company had partnered with Uber last year, DoorDash accounts for twice as many pizza orders.
When discussing the impact of global tariffs on ingredients, Weiner clarified that Domino’s is not significantly affected. He acknowledged existing concerns around declining consumer disposable income but emphasized Domino’s value proposition. “We have a robust supply chain and scale, which allows us to keep prices stable for both franchisees and consumers,” he stated.
“During these challenging times, we have the capability to enhance our competitive edge and continue providing long-term value to our customers,” Weiner concluded. “This is fundamentally what our company is built to do.”
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