Nearly all restaurants will see declines during the novel coronavirus pandemic, as state and local governments around the U.S. restrict dine-in services. But the more business a restaurant normally gets from takeout or delivery, the better-equipped it will be to keep up its sales.
Domino's Pizza (NYSE: DPZ) and Papa John's International (NASDAQ: PZZA) are two such chains, helping them cater to hungry consumers during the downturn.
As of March 26, 32 states in the U.S. had ordered restaurants to stop dine-in services and to offer takeout and delivery only. That includes such big markets as California, New York, and Pennsylvania. The suspension of dine-in services will continue for an unknown period of time, hurting sales at practically all restaurants.