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Domino's get topping of extra profit

Tuesday, July 22 12:41:53

Domino's Pizza today reported quarterly profit that topped Wall Street's view, boosted by strong results from overseas and its home market of the United States, where rival Pizza Hut is struggling.

The second-largest U.S. pizza chain by store count reported second-quarter net income of $38.5 million, or 67 cents per share, up from $33.3 million, or 57 cents per share, a year earlier.

Analysts, on average, expected Domino's to earn 66 cents per share in the latest quarter, according to Thomson Reuters I/B/E/S.

Revenue rose almost 9 percent to $450.5 million after sales at stores open at least one year gained 5.4 percent domestically and 7.7 percent internationally.

Domino's rivals include Yum Brands Inc's Pizza Hut, Little Caesars Pizza and Papa John's International Inc. Domino's had 5,000 domestic outlets and nearly 6,000 international stores at the end of the quarter.

Yum on Wednesday reported a 2 percent drop in second-quarter sales at established U.S. Pizza Hut restaurants, which continue to struggle.

U.S. restaurant same-store sales rose just 0.3 percent in the second quarter, just a slight improvement from the 0.2 percent decline in the first quarter, according to Black Box Intelligence, which tracks 19,000 restaurants. (Reuters)

For more visit: www.businessworld.ie