Domino’s Pizza benefits as Britons drawn towards cheaper food amid recession

Recession hit Britons who have abandoned eating out due to cut backs have boosted Domino’s Pizza who have experienced a 15% increase in like-for-like sales in the first six weeks of 2009.

Earlier this month when the country experienced its heaviest snowfall in 20 years, the chain said sales surged by 20%.

The news comes just 24 hours after KFC, renowned for its fried chicken, said it was embarking on a £150 million expansion programme which will see it open 300 new outlets and create 9,000 new jobs in the UK.

KFC also said it is experiencing strong growth as Britons are drawn towards cheaper food amid the recession. The chain boasts it can feed a family of four for £10 with its bargain bucket.

Fast food chains appear to be one of the few industries that are thriving during the recession.

Meanwhile, profits at Domino’s in the year to 28 December grew 25% to £23.4 million, with like-for-like sales up 10%. It is becoming evident that an increasing amount of people are choosing to stay at home and order in food. As well as pizza, the group said its potato wedges and loaded potato skins are proving popular.

In the same period, the company opened over 50 new stores and created almost 2,000 jobs.

Finally, the chain is planning 50 new stores this year, taking its total number of outlets to over 600.

Shares in the pizza chain gained 4% this morning to 235p – making it the top performer on the FTSE 250.

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