Domino posts have bright results as new menu items boost sales

Domino’s Pizza outperformed Thursday’s quarterly earnings and profit estimates as new menu items such as cheeseburgers and chicken taco pizzas boosted demand from Americans ordering food from home comfort.

The pizza chain has also approved a new $ 1 billion share buyback plan, raising its stake by nearly 12% to a record $ 526.29.

Domino’s Pizza, one of the biggest beneficiaries of the pandemic blockade, strives to maintain its 18-month momentum by opening new stores. Reduce delivery times and introduce non-contact takeaway options..

We have also raised menu prices and shipping charges to address the cost surges caused by rising raw material prices and costs associated with COVID-19.

These efforts resulted in same-store sales growth of 3.5% in the United States, the 41st consecutive quarter of growth. Analysts expected a 1.3% drop.

“It’s often said that sales growth is weak in a fully reopened market, but … the opposite is true. Appeared throughout the second quarterIn markets with less COVID-related restrictions, sales increased in the second quarter, “said CEO Ritch Allison on a post-revenue phone call.

I see a person wearing a mask outside the Domino's Pizza store
Domino’s Pizza said sales have grown tremendously as coronavirus restrictions have been relaxed and people are starting to eat out more and more instead of ordering home delivery.
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International comparable store sales growth of 13.9 percent also far exceeded analysts’ expectations of a surge of 8.9 percent. The push came from new blockades in countries such as the United Kingdom and India, where people relied on online orders.

Total sales for the second quarter ending June 20 were $ 1.03 billion, up 12.2%, above an estimated $ 972.3 million, according to Refinitiv’s IBES data.

After adjustment, Domino earned $ 3.12 per share, above the estimated $ 2.87.

Domino posts have bright results as new menu items boost sales

Source link Domino posts have bright results as new menu items boost sales

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