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Domino's rising stock shows reward of risk
January 17, 2010
When Domino's announced it would overhaul its pizza recipe in mid-December, people were skeptical. Analysts thought the move could alienate brand loyalists; consumers poo-poohed the unhealthy nature of the food altogether. Then came the ads admitting the poor quality of their previous core pizza recipe, which drew criticism from industry watchdogs like Steven Colbert.
It may be too soon to say, but the pizza company seems to be getting the last laugh. At least in the short term, according to stocks. From Dec. 14 to Jan. 14, stocks have risen steadily, from $7.71 to $11.31, an increase of 47 percent.
But new Domino's CEO Patrick Doyle is not surprised.
"The strategy for the transparency and the campaign only worked because we were very confident that we had an absolutely perfect pizza," he said.
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