Domino's Pizza (NYSE: DPZ) has thrived since the pandemic onset. There was always a concern from investors that Domino's would be harmed when economies started reopening, but it's coming from a surprising factor. Investors thought it would be customer demand for ordering pizza that would fall off.
Shake Shack (SHAK) sees Shack sales jump 28.5% year over year in the fourth quarter of fiscal 2021.
The pizza chain said it will cut the number of chicken wings in its $7.99 carryout offer to eight pieces from 10 pieces, the first of a few changes the company is making to counter higher labor costs and prices of meats, cheese, and some grains. "We expect unprecedented increases in our food basket costs (for fiscal 2022) versus 2021 of 8% to 10%, which is 3 to 4x what we might normally see in a year," Chief Executive Officer Richard Allison said at ICR Conference. Domino's is also moving the offer to only its online sales channel as it could cut costs by not having its workers answer the phones.