Domino's may hold the coveted title of the largest pizza chain in the United States (and the world!), but it is struggling to continue attracting customers.
The chain's Q2 earnings, released today, revealed that the company saw lower order volumes and a $40.6 million, or 3.8%, drop in revenue during the second quarter of 2023.
Many major restaurant and fast-food chains have raised their prices in recent years after supply chain issues and inflation exacerbated costs for food, labor, and other commodities.
Company executives predicted in October 2022 that their prices would rise around 7% in the final quarter of the year, according to Market Watch.
These price hikes have affected the demand for Domino's food. For example, some customers said they were completely done with the chain after it raised the price of its popular Mix and Match deal in 2022.
Another major reason behind Domino's recent struggles is its delivery business. The company has reported decreases in same-store delivery sales during the last few quarters, including a 3.5% decline during the most recent quarter.
So far, Domino's has resisted partnering with any third-party delivery services, but the new agreement will allow customers to order Domino's from Uber Eats and Postmates for the very first time.
"We're excited to begin accepting orders to the Uber Eats channel later this year, and look forward to reporting the results of this important growth initiative," said CEO Russell Weiner.