Domino’s Pizza posts shock fall in U.S. same-store gross sales as inflation bites

(Reuters) -Domino’s Pizza on Monday posted a shock decline in first-quarter U.S. identical retailer gross sales as shoppers curbed spending on eating out amid excessive inflation and macroeconomic uncertainty.

The world’s largest pizza chain’s same-store gross sales within the U.S. fell 0.5%, in contrast with analysts’ common estimate of a 0.49% rise, in accordance with knowledge compiled by LSEG.

President Donald Trump’s erratic commerce coverage has fanned fears of a recession in america, affecting demand for discretionary gadgets, in addition to eating out.

Domino’s Pizza’s newly launched parmesan-stuffed crust pizza and promotional “enhance weeks”, providing 50% off on all on-line orders, helped drive some demand, analysts have stated.

For the primary quarter ended March 25, the corporate posted earnings per share of $4.33, beating analysts’ common estimate of $4.07.

Worldwide same-store gross sales grew 3.7%, forward of analyst estimates of 1.93% development.

Earlier this month, Domino’s introduced a partnership with DoorDash, which is able to permit customers to put orders by way of the DoorDash app when it is launched nationwide in Might.

(Reporting by Juveria Tabassum in Bengaluru; Enhancing by Shinjini Ganguli)