Domino’s Pizza stock fell more than 8% after the company reported weaker-than-expected U.S. same-store sales growth of 0.9%, below Wall Street forecasts.

The company also lowered its full-year outlook, now expecting only low-single-digit growth instead of 3%.

CEO Russell Weiner pointed to weather issues, weak consumer sentiment, and rising competition from rivals offering aggressive promotions.

Despite the short-term slowdown, Weiner said Domino’s remains confident due to its strong advertising budget and long-term market position, CNBC has reported.

The company’s shares have dropped nearly a third over the past year as competition and industry challenges intensify.