The landscape of food delivery is dramatically changing.
Third-party delivery services have exploded in the United Kingdom and are expanding rapidly here in the U.S. According to Hedgeye Restaurants and Consumer Staples Analyst Shane Laidlaw, companies like Just Eat are going to take business away from the major pizza chains like Papa John’s (PZZA).
“Just Eat is clearly displaying a desire to come after the pizza market,” Laidlaw says in the video above. “You look at Domino’s and Papa John’s openly admitting that they’re feeling pain in the U.K. due to a multitude of reasons.”
Not only are these services delivering pizza, but they’re offering delivery of just about every kind of cuisine. That’s just one of several reasons to be bearish on Papa John’s.
Watch the video to get a taste of this short.