Bad news for the pizza giant…
Domino’s Pizza suffered a sharp decline in its sales growth in early 2017, its rival Pizza Hut cut its prices and consumers held back on spending.
David Wild, the Domino’s chief executive, said: “Looking forward, the UK consumer environment is more difficult,”
“Our research tells us that customers are worried about rising prices. They’re not worried about job security but they are worried about prices.”
Family finances are expected to come under pressure in 2017 due to rising inflation and weak wage growth.
Over the first nine weeks of the year, stores which were open for over a year saw sales growth drop by 1.5 per cent. This is down from 10.5 per cent in the same period a year earlier.
Wild added that consumers “have seen things like petrol rise in price, they’re reading in the newspaper that food and energy prices are going up, and they’re factoring that into spending.”