Richard Allison, CEO of Domino’s Pizza, speaks at CNBC’s Evolve conference in Chicago on Sept. 24, 2019.
Jeff Schear | CNBC
Amid growing competition from third-party delivery apps, Domino’s Pizza slashed its long-term sales outlook and reported quarterly earnings and revenue that fell short of estimates.
CEO Ritch Allison told investors that the company changed the outlook given “evolving market conditions and market uncertainty.” The likes of GrubHub and DoorDash have been putting pressure on Domino’s U.S. sales, but the pizza chain is betting that their business model, which involves luring customers with free delivery and deep discounts, is not sustainable.
Competitors Yum Brands’ Pizza…