“Domino’s Pizza forecasts soaring food costs in 2022, reiterates long-term sales outlook”
January 11, 2022
“Domino’s Pizza said it expects higher food prices to persist this year, putting pressure on the chain to cope with rising costs without alienating consumers.
“We expect unprecedented increases in our food basket costs versus 2021,” CEO Ritch Allison told attendees of the virtual ICR Conference on Tuesday.
The company is forecasting an 8% to 10% increase in its food basket costs for 2022, three to four times the inflation for a typical year. Allison said that prices for meats, cheeses and certain grains are going up, making its pizzas more expensive to produce…”