Domino's Pizza Forecasts Soaring Food Costs in 2022, Reiterates Long-Term Sales Outlook

Food isn't the only area that Domino's expects to spend more on this year. Allison said that the company currently believes the restaurant industry will continue to see higher labor costs this year as well.staffing issues put pressure on Domino's U.S. transactions. Some locations had to shorten hours, potentially leading those restaurants to miss out on sales.

The pizza chain plans to change some of its national promotions in 2022 to maintain profit margins, despite rising costs. For example, when its $7.99 week-long carryout offer starts in a few weeks, Domino's will only offer the deal to customers ordering online. Digital orders typically result in customers spending more, plus Domino's will get access to valuable consumer data and its workers won't have to answer phones to receive the orders.

The pizza chain also reiterated its two-to-three year outlook, saying that it expects 6% to 8% of net unit growth and 8% to 10% of retail sales growth. Wall Street analysts surveyed by Refinitiv are expecting Domino's to see earnings growth of 12.9% in 2022 and revenue gains of 7.1% in 2022. Shares of Domino's were down nearly 1% in morning trading. The stock has climbed 28% over the last 12 months, giving it a market value of $18.3 billion.

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