Jubilant partners with Pepsico to expand its beverage menu
The operator of Dominos Pizza chain, Jubilant Foodworks announced PepsiCo as the new beverage partner for the pizza brand. This partnership is meant to sell PepsiCo beverages viz; Pepsi, Mountain Dew, 7UP, Mirinda along with Lipton Iced Tea across all Dominos outlets. Pepsico would bring greater beverage variety and augment Dominos’ customers’ experience and equally strengthen Pepsico’s position in the food service segment.
During the quarter, the company witnessed robust Same Store Growth of 20.5 per cent in Dominos Pizza and that the addons in beverages may improve its footfalls further. Moreover, the company went on a store opening spree with 24 stores registering the highest in the last seven quarters. With this, the company reported 1,167 restaurants across 269 cities, with one addition during the quarter at Ambaji, Gujarat.
The stock of Jubilant Foodworks formed a Doji pattern at all-time high on August 28, 2018 and thereby gave a downbeat up to 1080 on October 4. Meanwhile, the stock breached its 100 and 200-day EMA. The stock tried to surge but resisted at 38.2 per cent retracement level of the prior downward rally. The stock retreated and slipped below 1080, hitting a low of 977 on October 26 and formed a Hammer-like pattern.