Domino’s Pizza’s chief executive has criticized fast-food rivals for offering great value menu items in an effort to lure customers back at a time of rising prices.
Russell Weiner, CEO of the Michigan-based pizza chain, said: He told Bloomberg News The great value set menus offered by McDonald’s aren’t quite what you’d expect.
“It’s like, ‘The rest of our menu is expensive, but you might not like it, but you can get this one dish for cheap,'” Weiner said, without naming the competitors.
“It’s not worth it.”
McDonald’s, which has struggled to retain its traditional low- and middle-income customer base amid high inflation, introduced a $5 Value Meal this summer that includes a McDouble or McChicken sandwich, small fries, four Chicken McNuggets and a small soft drink.
The Chicago-based fast-food chain initially planned to offer the value menu for a month, but decided to keep it going for now as it helped bring customers back to restaurants.
Sonic Drive-In announced earlier this month that it would launch a unique value set offering “Fun.99” menu items including burgers, snacks, desserts and wraps for $1.99 each.
Burger King and Taco Bell have also introduced similar limited-time deals.
But Weiner doesn’t seem too impressed.
“Just because something is cheap doesn’t mean it’s worth it if it’s not what you want,” he says.
“If you want a big sandwich but end up getting a smaller one for less, you’re not going to be satisfied.”
Domino’s is offering customers two of nearly every item on its menu, including cheese bread and specialty pizzas, for $6.99.
Weiner touted the company’s revamped loyalty program, which allows customers to redeem rewards more quickly, and said new products such as New York-style pizza have also led to increased sales.
Domino’s Pizza shares plunged 14% last week, its worst one-day drop in more than a decade.
The company expects same-store sales to fall in the third quarter compared with the previous quarter and has lowered its target for opening new stores overseas.
The company has set a goal of opening more than 925 stores overseas this year, but is on track to fall about 275 short of that target after its Australia-based master franchisee announced earlier this week that it would close stores in Japan and France with low sales.
However, since last week, the company’s shares have recovered, with the company’s shares overall up more than 5%.
The Post has reached out to Domino’s Pizza for comment.
