Domino's Pizza sales surge amid coronavirus lockdowns
US same store sales spike 16% from a year ago
Domino’s Pizza profit surged 29 percent in the three months through June as consumers chowed down on pizza while riding out the COVID-19 pandemic from home.
The Ann Arbor, Michigan-based pizza chain earned $118.7 million, or $2.99 a share, as revenue jumped 13 percent year-over-year to $920 million. Wall Street analysts surveyed by Refinitiv were expecting earnings of $2.24 a share on revenue of $911.5 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DPZ | DOMINO'S PIZZA INC. | 476.19 | +3.85 | +0.82% |
"I have never been more proud of our system of franchisees, operators and corporate team members for their continued passion and innovative spirit," CEO Ritch Allison said in a statement.
U.S. same-store sales spiked 16 percent from a year ago on their way to a 37th consecutive quarter of growth. Meanwhile, international sales were up 1.3 percent, gaining for the 106th straight quarter.
The company opened a net 84 locations during the second quarter, 39 in the U.S. and 45 overseas.
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Domino’s shares rose 40.8 percent year-to-date through Wednesday while the S&P 500 was down 1.3 percent.