‘Magical’ holiday shirts and $5 pizzas: Why I’m still passing on Pizza Pizza’s dividend GlobeInvestor
So far, management’s efforts to stem the slide haven’t worked.
Pizza Pizza has also rolled out more traditional promotions, such as a buy-one, get-one-for-$5 large pizza delivery offer, but the deals failed to gain traction with consumers who already have a plethora of cheap fast-food options. In a further bid to get sales growing, the company is in the midst of updating its store network, and later this year it plans to relaunch its website and smartphone apps.
“It’s a very tough market,” Douglas Fisher, president of food-service and franchise consultants FHG International Inc., said in an interview. “But I don’t see [Pizza Pizza] pounding the airwaves. I don’t see them doing anything innovative, new and dynamic.”All of this has taken a toll on Pizza Pizza Royalty’s stock price. The shares, which closed Tuesday at $10.
But that reserve shrank by $838,000 in 2018, largely because of Pizza Pizza’s negative same-store sales. And with the company now distributing more cash than it brings in – the payout ratio was 104 per cent last year – clearly this can’t go on forever. “If these reserves are significantly reduced, Pizza Pizza GP [the managing general partner] may determine that it is necessary to reduce its distributions,” the company said in its 2018 annual information form.
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