Domino’s sees $1 billion in new sales from aggregators like Uber Eats, eventually

Domino's stock rose Monday after the pizza chain said a recently announced collaboration with Uber Eats could add $1 billion in new sales.

Domino’s Pizza Inc. shares rallied toward an 11-month high Monday as the pizza chain was upbeat about its recently announced collaboration with Uber Eats, saying that entering the aggregator marketplace could add $1 billion in new sales.

The upbeat comments, and the indication that the company will announce similar deals down the road, followed the reporting of second-quarter results in which Domino’s DPZ beat profit expectations but missed on revenue, as delivery same-store sales declined for an eighth straight quarter. He expects a “slight improvement” in trend in the fourth quarter, as the company’s updated loyalty program rolls out and because of expected transaction growth from the Uber Eats partnership.

Chief Executive Officer Russell Weiner said on the call that research from Circana shows that aggregator sales for delivery for quick-service pizza restaurants has reached almost $5 billion for the year ending in May.

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