Domino's Pizza net climbs 69% despite dip in sales
April 30, 2009
by Eric Schroeder
ANN ARBOR, MICH. — Net income at Domino’s Pizza, Inc. rose 69% to $23,770,000, equal to 41c per share on the common stock, up from $14,119,000, or 23c per share, in the same period a year ago. Net sales, meanwhile, fell 5% to $321,828,000.
"I am very satisfied with our operational performance during the quarter, and I am cautiously optimistic about our first-half outlook," said David A. Brandon, chairman and chief executive officer. "We are re-establishing our industry leadership position in the areas of product and technology innovation, marketing and retail execution — and our domestic franchisees outperformed our Team USA stores in same-store sales for the first time in many quarter. This is a very good sign, and a strong indication that our domestic franchise system is starting to regain some positive sales momentum. Our international business continued its long success streak of positive sales and store growth — although this strong growth was offset by the negative effect of foreign exchange."
Domestic company-owned stores posted sales of $80,996,000 in the first quarter of fiscal 2009, down 13% from $93,047,000. Meanwhile, sales at international locations fell 9% to $30,447,000.
Dominos made headlines recently with the announcement it has launched Domino’s BreadBowl Pasta, a new line of pastas that includes a handmade, oven-baked bread bowl.