
Please try another search
Shares of both Papa John's (NASDAQ:PZZA) and Domino's Pizza (NYSE:DPZ) sunk on Wednesday after rival Yum Brands (NYSE:YUM) announced that Pizza Hut will now deliver beer to its customers.
On Tuesday, the Yum subsidiary began to test beer delivery in the Phoenix area, with the hopes to add wine to its booze delivery offerings as soon as January.
Pizza Hut currently sells wine and beer at many in-store locations. Therefore, the next logical step was to offer adult beverage delivery, according to statements from Pizza Hut’s Director of Brand Marketing, Stacy Lynn Bourgeois.
Phoenix-area Pizza Hut customers will be able to order six-packs of Shocktop, Bud Light, Budweiser and a local Arizona-based craft brew, Kilt Lifter, which will all cost a flat rate of $10.99. Drivers will check customers’ IDs to verify that they are over 21 and deliver the cold beer kept in a cooler.
Yum plans to roll out Pizza Hut’s beer and wine delivery concept to more markets after its Phoenix trial.
This beer delivery move comes after Yum poured $130 million into Pizza Hut in April in order to better compete with rivals Domino’s and Papa Johns. Since then, the company also made plans to hire 14,000 more delivery drivers by the end of the year.
Shares of Yum, which also owns KFC and Taco Bell, were little changed after the announcement. However, rivals Domino’s and Papa John’s, saw their stock prices sink after the beer delivery announcement.
Papa John’s stock tanked 5.43% on Wednesday, helping the now controversial pizza giant inch closer to its 52-week low. Papa John’s is currently a Zacks Rank #4 (Sell) and scored an “F” for momentum in our Style Scores system. Shares of Domino’s dipped nearly 2.40%.
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
The fortune of Nvidia (NASDAQ:NVDA) is closely tied to Big Tech hyperscalers. Although the AI/GPU designer didn’t name its largest clients in the latest 10-K filing on Wednesday,...
In a market fraught with uncertainty, investors often seek refuge in defensive-minded stocks that offer stability and resilience. Two such stalwarts, Johnson & Johnson and...
The United States is the largest exporter of liquefied natural gas (LNG), having surpassed Australia and Qatar in 2023. The United States exports an estimated 12.5 billion cubic...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.