Domino’s Pizza has reported higher sales in the second quarter, but its profit saw a decline during the period.
The company’s global retail sales rose 5.6 per cent to $4.6 billion for the quarter ended June 15, including a 5.1 per cent growth in the US and 6 per cent increase in international markets.
US same-store sales increased 3.4 per cent, with company-owned stores up 2.6 per cent and franchise locations up 3.4 per cent. International same-store sales improved 2.4 per cent.
Income from operations grew 14.8 per cent, but net income decreased 7.7 per cent. The company attributed the decline to an unfavorable change in the pre-tax net realized and unrealized losses and gains associated with its investment in DPC Dash.
Domino’s Pizza CEO Russell Weiner said the company delivered “strong results” in the second quarter.
“Internationally, we continued to grow despite macro challenges. In the US, both delivery and carryout grew, driving meaningful market share gains within the US pizza QSR category.
During the period, global net stores grew by 178, including 30 net store openings in the US and 148 internationally. As at June 15, store count reached 21,536, including 7061 in the US and 14,475 in international markets.
This article was first published on sibling website Inside Retail.
