According to Nasdaq.com, “Pizza Hut is dramatically cutting pizza prices over the coming weeks with a simplified menu that sells pies for $8, $10 or $12, as it tries to slow a resurgent Domino’s Pizza Inc. (DPZ).”
“The Yum Brands Inc.-owned (YUM) chain cut the price of all medium pizzas to $8 and large pizzas to $10, both with up to three toppings. Upgrading to specialty pizzas like the “Meat Lovers” or “Super Supreme” pies or adding up to two more toppings will cost an extra $2 per pie, Chris Fuller, a Pizza Hut spokesman, said Tuesday. The new prices, which roll out to two-thirds the U.S. this week, slice at least $3 off the price of all pies. Medium cheese pizzas that had on average cost of $11 will now be $8, while large cheese pizzas will be $4 cheaper at $10. Some cuts are bigger. For instance, large pizzas with three toppings had on average cost $19 at Pizza Hut, but will now go for $10. The $8, $10, and $12 pizza prices will be a permanent shake up of Pizza Hut’s prices, though the chain has offered lower prices on some items, like a recent limited-time deal of $10 for any pizza, which winds down this week. The price cuts potentially put sales at risk, but Pizza Hut hopes it can attract enough customers to soften the blow. “I think we’ll see that the traffic and overall volume will increase enough to offset the guest check total,” Fuller told Dow Jones Newswires.”
