Greg Francfort

Management said orders kept growing, including among low income consumers, but Q3 pressure showed up as fewer items per order.

Weiner restated the profit-neutral pricing framework and 50% incrementality assumption; Reddy added that protecting profitability guides the growth approach.

Russell noted competitors copying Domino's value playbook in Q1. Believes they cannot drive volumes needed for profitability given advertising budget gap (Domino's = 2 biggest competitors combined). Sandeep added competitors closed ~450 stores in 2025 too, 2026 is continuation of same squeeze play that Domino's has run for years.

Russell detailed: new ecommerce site live and outperforming old site, apps launching in 2026. DOM OS orchestration engine connecting order prediction with smart dispatch, if no driver available in time, system holds order. In ~6 stores now. Goal is real-time pizza making and delivery.

Russell used ice cream flavor analogy: mix-and-match (medium, multiple items) and BDE (large, custom pizza) target different occasions and customers. Complementary, not cannibalistic. BDE success comes from giving customers the deal they actually want vs forced compromises elsewhere in QSR.

Sandeep noted Q2's 2.4% was in line with expectations (sequential deceleration from 3.7%). Maintained 1-2% guide but acknowledged potential upside if geopolitical overhang doesn't materialize.

Russell noted aggregator customers tend to be smaller parties (1-2 people) vs larger occasions on dominos.com. Platform customers are promotionally sensitive but best deals remain on direct channel.

Rick credited a decade of food-quality investment, improving service, viral lamb promo, and favorable beef relative value.

Rick described AI use for forecasting, scheduling, food ordering, and IT code writing. 200 IT staff using AI to accelerate development. No restaurant job reductions expected. Approach is amplifying expertise, not replacing people.

Raj confirmed double-digit YoY improvement in turnover (record lows for most brands). Hourly wage inflation about 3%, lower than pre-COVID mid-threes.

Rick cited LongHorn's COVID-era investments in steak size, continued pricing below inflation, and focus on quality. Limited consumer overlap with top competitor.

Rick confirmed smaller prototypes and pipeline building support returning to historical unit growth rates for both brands.

Raj described multi-year data strategy with snowflake, data scientists, and GenAI pilots underway.

CEO said higher income spending is resilient with share gains. Low-income declines are less pronounced than 6-12 months ago but still declining, pressured by elevated gas prices.

Ian reiterated 210M 90-day active users on path to 250M, US frequency lift 10.5 to 26 visits post-joining, and outlined progress on three tech platforms.

Ian confirmed 500 restaurants in two regions with differing portfolios; Chris added pricing discipline vs competitor set will be key if rolled nationally.

Chris said digital offers have moderated slightly but not due to intentional pullback; broad McValue reach is an imperative.

Scott linked digital acceleration to the Rewards relaunch and Summer of Extras and teased further digital innovation under new CDO Arlie Sisson.

Scott emphasized pricing power from underpricing industry for second consecutive year, disclosed a happy hour test at $2.50 tacos, and said they won't handicap Fernando with historical thinking.

Scott noted US-manufactured equipment with tariff exposure on component parts. On margin benefits, said they haven't determined split between reinvestment and margin capture yet.

Turner explained the Collider consumer insight behind Quench and confirmed a go decision in the UK and Australia, without quantifying the same-store sales lift.

Roy clarified KFC U.S. moved to system sales table given <5% of profit ex Pizza Hut. Turner confirmed Saucy learnings powering global innovation including tenders and sauces.

CEO highlighted Saucy concept's very encouraging early results, plans for dramatic test expansion, and Scott's 20-year KFC background combined with Taco Bell success as strengths.

Francfort probed other-OpEx deleverage and whether 2026 pressure reverses in '27; Tolivar attributed it to third-party delivery mix, expected to moderate into the back half.

Tricia said digital mix rose from ~36% to ~40%, driven by third-party delivery and other channels; all channels designed for equal per-dollar profitability.