Pizza Hut just made a big move in the big pizza chain deep discounting battle. The company has introduced a $5.55 large pizza with one topping promotion in celebration of its 55th anniversary.
The limited-time offer runs through June 15 and is only good for carryout orders. Large, one topping pizzas at Pizza Hut usually run for about $11.
USA Today reports that carryout is Pizza Hut's fastest-growing business and now accounts for a majority of its sales.
Doug Terfehr, a Pizza Hut spokesman, told the publication that the $5.55 promotion is the most aggressive offer of the year in the pizza space. Of course, Little Caesars has its $5 Hot 'n Ready pizza promotion, and some CiCi's locations feature $5 buffet deals.
Outside of the pizza space, QSRs have been aggressively jockeying for the value customer since the beginning of the year, citing a slow economic recovery and pressures such as the payroll tax and high gas prices.
Terfehr said there is no record of Pizza Hut's prices being this low for decades.
In March, Pizza Hut parent company Yum! Brands' CEO David Novak said the competitive environment is heavy in the U.S. and to maintain an edge, a company has to have value and innovation.
"The U.S. is the most competitive market we have anywhere in the world and if you don't play your 'A' game, a game of value and innovation, you're going to end up losing," he said.
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