Domino’s Pizza Inc reported its flying numbers for quarterly revenue and profit on Thursday. The world’s biggest pizza chain proved its relevance in the food business by delivering results that go higher than market estimates.
Domino’s, like its competitors, Chipotle and Papa John’s, benefitted a lot through its takeaway services during the pandemic. To help further boost sales, Domino’s also introduced a round of new menu items to its customers.
The new chicken wings flavor, cheeseburger, and chicken taco pizzas received warm welcome from its customers. This is proven through a 3.5% raise in Domino’s US same-store sales. The figure further rejects analysts’ estimates with a 1.3% decline, Reuters notes.
Not only that, Domino’s also expanded its restaurants to add more new stores. Thus, Domnio’s could provide faster delivery service to coronavirus-wary customers through contactless takeaway options.
Additionally, Domino’s reported a 13.9% growth in its international same-store sales. The number goes higher than analysts’ expectation of 8.9%. Fresh lockdowns in several countries such as the United Kingdom and India contributed to the growth as people preferred online ordering.
IBES data from Refinitiv further showed that the total revenue for Domino’s Pizza grew 12.2% to $1.03 billion. The number exceeds estimates at $972.3 million, Reuters quotes.
Accordingly, Domino’s generated $3.12 per share on an adjusted basis, which beats estimates of $2.87.
The shares for Domino’s also inclined around 2.5% in premarket trading. The incline came as the restaurant chain authorized a new $1 billion share buyback.
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