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Domino's CEO Says Pizza Chain Is Mostly Open For Business In US

Domino's CEO Says Pizza Chain Is Mostly Open For Business In US

A handful of restaurant executives joined a Wednesday conference call with President Donald Trump and emphasized the "important role" restaurants have in serving their communities, Domino's Pizza, Inc. (NYSE: DPZ) CEO Ritch Allison said on CNBC's "Power Lunch" segment.

Borrowing From The Asian Playbook

Restaurants are vital for not only feeding people but putting lots of people to work, and this message was well-received by Trump and Treasury Secretary Steve Mnuchin, Allison said.

In the case of Domino's, the chain is duplicating successful strategies employed by restaurants across Asia that have been on the "forefront" of the coronavirus epidemic, the CEO said. 

The pizza chain's Asian business mastered techniques involving contactless deliveries, a safer way of serving customers, and simultaneously respecting the "social distancing that is so important" in mitigating the expansion of the virus, he said. 

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Few US Closures For Domino's 

Domino's stores remain fully functional across the U.S. with the exception of one or two units, Allison said. If this number changes, the company is prepared to offer sick pay for team members and pay if anyone is forced into quarantine, he said. 

The stock was trading 12.3% higher at $326.86 at the time of publication.

Related Links:

BTIG On Restaurants: 'Cash Is King'

How Trump Is Handling The Restaurant Biz Amid Coronavirus Outbreak

Photo courtesy of Domino's. 


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