A folded food carton is formed from a matable, lay flat blank for retaining, transporting and serving hot food such as pizza. The blank includes an arrangement of end panels, side panels and cover panels foldable relative to a bottom panel such that, in the erected carton, the cover panels overlap and are interlocked with the side panels by means of offset locking tabs. The end panels slant upwardly and inwardly from the bottom panel to add rigidity and save material for the carton. The side panels flare upwardly and outwardly from the bottom panel and extend above the cover panels to enhance stackability and prevent shifting of stacked cartons one on top of the other. Several methods of packaging pizza in the folded carton are disclosed.