Jubilant Foodworks stock popped by 23%, days after it opened 100 new Dominos stores

Oct 19, 2023

Jubilant Foodworks stock popped by 23%, days after it opened 100 new Dominos stores

Dominos Pizza has seen an incredible demand in its food delivery segment during the pandemic in India. It has also increased its stores footprint across the country during the same time.

Jubilant Foodworks operates Domino’s Pizza restaurants in India. It also operates restaurants of other brands like Dunkin Donuts.

Jubilant Foodworks stock price rose by 23% since its last earnings call in July. The company just posted higher than expected revenues in the last quarter ending in June, despite the second wave of pandemic.The firm reported a 123% increase in sales from the food delivery segment. This probably helped cover the loss of revenue from restrictions in dine-in.

Another interesting thing also happened in the days leading to the earnings calls. The company opened 100 more stores across the country. The total number of stores across the country rose from 1298 at the start of June 2021 to 1397 stores by the end of July 2021.