When most people think of hanging out with family and friends, it tends to involve one of my favorite subjects — food. According to The Bureau of Economic Analysis, the U.S. consumer spends an average of $6,129, or 9.81%, of their pay on food each year. That spending makes the food industry, which includes eating at home and eating out, a big, big business.
Joining me to talk about the success, as well as the challenges, that Domino‚??s Pizza (DPZ) faces is Lynn Liddle, its executive vice president, communications, legislative affairs and investor relations. Lynn has been with the company since 2002 and has seen the good, the bad and the ugly along the way.
Like any business, the food industry has its ups and downs — from new products and better service to tighter consumer spending and cutthroat competition to rising input costs and potential regulations. Despite those and other challenges, people need to eat, which means balancing demand with consumer tastes that sometimes shift based on the diet trend du jour.
With $1.6-$1.7 billion in annual revenues and more than 9,700 company-owned and franchised locations, it‚??s a player in pizza and more. Lynn and I talk about all of that, as well as break down the company‚??s key cost items and discuss potential regulation that is winding its way through Washington, D.C., to potentially take a bite out of small businesses. You‚??ll even learn what the number one pizza toppings are in Japan and India. Here‚??s a hint, they aren‚??t what you think they might be.
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