The chain is marking the 55th anniversary of its founding by dropping the price of a large pizza with a single topping to $5.55. The special price applies only to carryout pizzas, Restaurant News notes.
One marketing expert said that that Pizza Hut was likely testing how consumers would respond to the price cut. He noted that the short duration of the offer and restricting it to carryout pizzas would limit the promotion’s impact of the chain’s earnings.
Pizza rival Domino’s (DPZ) has previously priced medium pizzas with two-toppings at $5.99. And Cici’s Pizza offers a $5 large Hot-N-Ready pizza.
In March, Pizza Hut closed the one standalone WingStreet location that it launched late last year in Denton, Texas, as a test of the standalone WingStreet concept.
Shares of Yum! Brands climbed about 3% in Thursday morning trading.