Domino's Pizza to likely raise pizza prices to address inflation 

They will invest in technology and improve supply chain efficiencies.

Domino's Pizza CEO Don Meij said they will likely raise some of their prices as a response to rising inflation.

“Customer pricing is complex and there is not a ‘one size fits all’ approach. We have had to slightly increase some of our prices and are likely to have to increase some more – just like all businesses right now. Equally we are offering ‘inflation crushers’ – that win new customers by showcasing the value we provide," he said in a statement.

Meij said the company had also outlined a multi-layer response to inflation through improving supply chain efficiencies and investing in technology to provide efficient food delivery.

“By ensuring we have the lowest cost of operations, we can pass these savings through to our customers, delivering them Supreme Value when they choose where to enjoy their next meal,” Meij said.

“All of this adds up to delivering ‘Supreme Value’, striking the right balance: giving customers choice and value, while protecting franchisees with increased revenue and margin to help offset inflation,” added Meij.

According to its financial results that for 12 months that ended June 2022, Domino's underlying net profit fell by 12.5% to $165m. 

Its network sales went up by 4.6% to $3.92b whilst online sales grew by 4.4% to $3.06b.

The pizza food chain also reported its largest full year new store expansion, opening 294 new stores which is an average of more than five stores a week.