Shares of both Papa John's (PZZA - Free Report) and Domino's Pizza (DPZ - Free Report) sunk on Wednesday after rival Yum Brands (YUM - Free Report) 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 AmazonZacks 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.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of both Papa John's (PZZA - Free Report) and Domino's Pizza (DPZ - Free Report) sunk on Wednesday after rival Yum Brands (YUM - Free Report) 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 AmazonZacks 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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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