Pie in the Sky as Pizza Bucks Restaurant Industry’s 2016 Slump
In a year when U.S. restaurant chains have bemoaned sluggish traffic, competition from supermarket food and even the chilling effect of the presidential election, one area has continued to thrive: pizza.
Shares of Domino’s Pizza Inc. are up 45 percent this year. And Papa John’s International Inc. is up more than 60 percent. Compare that with a 3.4 percent gain for the Standard & Poor’s 500 Restaurants Index.
The reasons are pizza is cheap, fast and increasingly easy to get – thanks to user-friendly mobile-ordering apps and technology that lets diners order from Facebook, Twitter and Apple TV. That’s helped insulate pizza chains from a shift away from eating out.