Years ago while attending college, Little Caesars’ famous $5 “Hot-N-Ready” pizza served as my lifeblood. Filling and cheap, yet tasty, I ate more pizza then than any other time in my life. Those days seem to be coming to an end though, as the chain announced it is raising the price of its signature deal.
The New York Post reports this is the first time the price has risen in 25 years. The cost hike isn’t too concerning at least, with it going up 11 percent to a total of $5.55. Luckily, the new version of the pizza will at least come with 33 percent more pepperoni. Little Caesars CEO Dave Scrivano said the reason for the price hike is labor and commodities costs. For example, pepperoni alone has increased more than 50 percent.
“Our franchisees were highly accepting of this proposition,” Scrivano said. “They want to treat their customers like gold and make sure they get the best product possible and they love the idea of more pepperoni,” he told Fortune. “We think we’ve got something good here with delivery and our Pizza Portal and our Hot-N-Ready pizza. We’ve got a good structure to really drive overall growth.”
Though the chain adding contactless methods before COVID hit helped spike sales the past few years, the added pepperoni comes from an effort to remain competitive. On that note, Scrivano said the franchise is pushing its new cloud-based point-of-sale system, along with new menu offerings to help target certain markets in 2022.
If you want to get technical, it’s still $5, it just has two other fives to go along with it.
‘Papa John’ Schnatter Spent the Last 18 Months Sampling a Huge Amount of Pizza
Previously the face of Papa John’s, John Schnatter is a man who knows pizza. Since his departure from the chain, his love of pizza seems to have only grown, stating he’s eating more it now than ever.
Speaking to Bloomberg about the chain sporting his name, Schnatter has been eating a lot of pizza, to say the least. Since his departure, he claims Papa John’s pizza has only gotten worse. Firing shots at its new CEO, he claims it just isn’t the same. Backing up his claims with personal experience, he said he’s eaten 800 pies after leaving.
“Some were burnt, some were undercooked,” Schnatter said. “It kind of makes me laugh at [Papa John’s CEO] Rob Lynch. This guy is delusional. He has no idea how we built this company and the fundamentals. But he thinks it’s him. He really thinks that he’s done something magical.”
Going further, Schnatter claims the company’s stock rising has nothing to do with Lynch and attributes its success to the pandemic and food delivery thriving now.
I’m a man who loves his pizza, but 800 within two years? You’ll be hard-pressed to find someone who can top that.