Domino's Pizza (NYSE:DPZ) served up a 28% increase in fourth-quarter profit on stronger same-store sales and new shops that opened in markets abroad.
Continue Reading Below
Touting the company’s “global momentum,” Domino's CEO Patrick Doyle said the positive results “provide yet more evidence that we have successfully resent the bar.” The company opened 413 new stores abroad during the period.
Domino's earned $30.9 million, or 52 cents a share, during the latest period, compared with a year-earlier $24.2 million, or 39 cents. The results were ahead of average analyst estimates in a Thomson Reuters poll of 49 cents.
Revenue for the three months ended Jan. 1 was up 4.5% to $501.7 million from $480 million a year ago, widely missing the Street’s view of $512.7 million.
Domestic same-store sales grew 6.8% during the quarter, while those in international markets climbed 4.7%. Together, the period marked the 72nd consecutive quarter of sales growth at stores open longer than a year.
The pizza company’s shares, which have grown more than 10% since October, were up 8% early Tuesday. The company has seen sales improve considerably since refreshing its menu and changing its pizza recipe in December 2009.
Separately, the company said some of its business groups intend to refinance their outstanding debt valued at $1.45 billion.