Domino's Pizza (NYSE: DPZ ) will now offer pan pizzas -- with their trademark crispy, golden, buttery crusts -- in all of its nearly 5,000 U.S. stores. Yum! Brands' (NYSE: YUM ) Pizza Hut has been in the pan pizza business for several years.
Pan pizza nationally accounts for 20% of the overall pizza market, according to Domino's, so it makes sense for it to throw its hat into the ring. The pan pizza category sits at $6.4 billion, according to a USA TODAY report.
Domino's is framing this as its "biggest step since reinventing its hand-tossed pizza nearly three years ago." A national TV campaign heralding the fresh-dough Handmade Pan Pizza will launch Oct. 1. This will be the third time Domino's has tried entering the pan pizza market, the other two attempts occurring in 1986 and 1997, according to USA TODAY. Domino's Pizza had global retail sales of more than $6.9 billion in 2011.