News
Domino'S Pizza · Earnings · Revenue · Same-Store Sales
Domino's Pizza reported mixed third-quarter results, with revenue exceeding Wall Street expectations at $1.07 billion, surpassing the $1.06 billion estimate.
However, earnings per share came in at $2.79, below the expected $2.97. The company saw a 2% rise in U.S. same-store sales, a positive sign after previous struggles with demand.
Internationally, same-store sales declined 1.8% excluding currency impacts. Domino's plans to increase the price of its mix-and-match deal for carry-out orders from $5.99 to $6.99 starting October 17th.
The company maintained its forecast for food cost inflation, expecting it to be between 13% and 15% for the year. Additionally, Domino's sold 114 company-owned stores to franchisees for $41.1 million after the quarter ended.
Despite rising costs and driver shortages, the company's stock saw a 9% increase in morning trading.
