TipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, including Starbucks and Block.
). Like most other companies operating in the food and quick-service restaurant industry, Domino's was a victim of high input costs, reduced consumer discretionary spending and labor shortages.
However, its efficient supply chain management, strong brand name, fairly priced offerings, and technology innovation capabilities are helping the company scale its business despite the headwinds. Palmer is upbeat about the pizza chain's efforts to internalize the management of delivery orders and mitigate delivery constraints in order to increase labor capacity."To this end, the company is striving to share best practices in labor scheduling, it is pushing more orders to labor-efficient mobile order & pick up , and it is likely testing technology to allow drivers to more easily 'opt-in' as drivers," said the analyst.
Palmer also sees a good opportunity for market share gain in the carryout segment as"stagflationary forces grow." Additionally, the company's digital offering of a large pizza at $7.99 with the option of a mix and match is another factor that can sustain the growth of same-store sales.
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