Domino’s Pizza (NYSE:DPZ) on Thursday said that its U.S. same-store sales grew 7.1% in the first four weeks of its second quarter.
The pizza chain, out of Ann Arbor, Michigan, reported fiscal first-quarter net income of $121.6 million, or $3.07 per share, up from $92.6 million, or $2.20 per share, a year earlier.
Net sales rose 4.4% to $873.1 million. Global retail sales increased 4.4% in the first quarter, or 5.9% excluding foreign currency impact. U.S. same store sales grew 1.6% during the quarter versus the year-ago period, continuing the positive sales momentum in the Company's U.S. stores business.
The international business also posted positive results, with same store sales growth of 1.5% during the quarter. The first quarter marked the 105th consecutive quarter of international same store sales growth and the 36th consecutive quarter of U.S. same store sales growth.
Wall Street anticipated earnings per share of $2.32 on revenue of $868.7 million, based on a survey of analysts. However, it’s difficult to compare reported earnings to analyst estimates for Domino’s quarter, as the coronavirus pandemic continues to hit global economies and makes earnings impact difficult to assess.
Said CEO Ritch Allison, "In a time of unprecedented change in our industry, I am pleased to report that Domino's is in a very strong financial position, both at the brand and franchisee levels.
"We can't predict the full impact of COVID-19 on the broader economy and we don't know how consumer behavior and restaurant purchasing patterns may evolve coming out of this crisis. What I do know is that our franchisees and teams in the U.S. and across the globe will remain focused on safely serving our customers and our communities in this time of need."
DPZ shares began Thursday off $12.61, or 3.3%, to $369.85.
