There are reports of a tight labor market in the US. Many US businesses are struggling to hire enough people. Possible reasons point to some people still working from home to the economy doing very well. Whatever the reasons, one thing seems clear. There is strong demand for products that US companies are selling, and companies are willing to pay higher salaries to attract people. One such company is Dominos Pizza. Recently, there was a story on Business Insider that the restaurant hired and promoted one Missouri employee amid a labor shortage. Dominos also allowed the employee to work extra hours. Clearly, national pizza chains like Dominos are on the rebound. When people talk about restaurants, the first impression that comes to mind is the tough time that the pandemic gave the restaurant sector. However, if you want to buy best restaurant stocks, then companies like Dominos could be the answer.
Pizza King Amid the Pandemic
Americans spent an incredible $14 billion in 2020 to have pizzas delivered at their doorsteps. There was an atmosphere of fear among people to step out of their homes as the virus spread rapidly across the world. Pizza was a convenient option as far as food was concerned during challenging times. Out of the $14 billion spent on delivery pizza, nearly half the amount was spent on Dominos Pizza. The company has truly emerged as the most dominant delivery pizza brand in the US. Dominos has grown its market share over the years with its 30-minute delivery promise as well as its consistent track record of coming out with new innovative pizzas regularly. Dominos is now going a step further in its delivery innovation through the use of autonomous vehicles to deliver pizzas. If you are looking for restaurant stocks to invest in, then market leaders like Dominos may provide some answers.
Dominos Pizza’s stock closed at $514.5 on 3rd September 2021. The stock was down 2.8% over the preceding month and was trading at a dividend yield of 0.73% on 3rd September. The 52-week high was not very far at $548.