Domino s net climbs on success of new pizza
May 4, 2010
by Eric Schroeder
ANN ARBOR, MICH. — The successful introduction of its “New and Inspired Pizza” helped drive a 3% gain in quarterly earnings at Domino’s Pizza, Inc. Net income in the first quarter ended March 28 totaled $24,519,000, equal to 41c per share on the common stock, up from $23,770,000, or 41c per share, in the same period a year ago. Net sales rose18% to $381,131,000.
“A remarkably better pizza, and our honesty in how we told consumers about it, is paying off with a revitalized overall category — with Domino’s leading that trend,” said J. Patrick Doyle, president and chief executive officer. “We couldn’t be more pleased with the success of our New and Inspired Pizza.”
Domestic company-owned stores posted sales of $88,206,000 in the first quarter of fiscal 2010, up 9% from $80,996,000.
Mr. Doyle also said Domino’s international division remained strong, and plans call for new markets to open in Europe, Asia and Latin America in 2010. Sales at international locations climbed 26% to $38,452,000 in the first quarter.