CEO Weiner says order count growth was meaningful for Domino’s
Domino’s Pizza reported higher profit and revenue for the second quarter, but its U.S. same-store sales growth slowed to 0.1%.
The company on Monday reported a profit of $135.8 million, or $4.07 per share, compared with $131.1 million, or $3.81 per share, a year earlier. Revenue rose to $1.19 billion from $1.15 billion a year prior. Analysts polled by FactSet had forecast a profit of $138.9 million, or $4.17 per share, on revenue of $1.18 billion.
Revenue growth was driven by higher franchise royalties and advertising revenues, as well as an increase in order volumes and food basket pricing to stores, the company said.
U.S. same-store sales rose 0.1%, slowing from 3.4% a year earlier. Same-store sales grew 2.1% among company-owned stores, while franchise same-store sales were flat. Analysts had expected a decline of 0.3%.
Global retail sales grew 3% to $4.85 billion, slowing from a 5.6% increase in the prior-year quarter.
Chief Executive Officer Russell Weiner said the company’s order count growth in the second quarter was “meaningful.”
“I believe order growth is the most important driver of long-term success in our business,” Weiner said. “In a quarter where the broader U.S. QSR industry continued to face pressure on consumer demand, Domino’s generated order count growth across both our delivery and carryout businesses, bringing millions of new customers to our brand.”