All Domino’s Pizza outlets in India which are run by the Jubilant FoodWorks company are set to hike their prices by 2 to 3 percent as of October 12, 2012. The company said that the new prices will be effective next month to fight against the increasing inflation pressure.
Ajay Kaul, the Chief Executive of Jubilant FoodWorks said, “The last time when we effected a price increases was in June this year. Before that last year in August and in November also we hiked our prices. Our next price hike will be in November, and it will be a 2-3 per cent increase”. Kaul also informed that earlier they used to hike the prices twice by a nominal 5 to 3 percent each time annually so as to combat the basic inflation.
The Chief executive of the company also said that prices are affected due to the weak sentiment of the market, but assured that it wasn’t alarmed by it yet. Kaul also said that their 22 percent same slide sale in comparison to 30 percent in the earlier quarter had faded out.
The Chief executive added that the sentiment is continuing but not in an alarming manner. Kaul even shared that the growth noticed last year is not seen this year.