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Domino’s earnings beat estimates; Stock hits new 52 week high

“I am very pleased with our strong global retail sales and store growth momentum during the second quarter” Domino’s CEO, Ritch Allison.

Domino’s earnings beat estimates; Stock hits new 52 week high

The fast-food pizza chain Domino’s (NYSE: DPZ) reported better-than-expected earnings for its fiscal second quarter on Thursday. During the last quarter, the company net sales increased by 12.2% to $ 1.03 billion, exceeding the forecast of $ 972.3 million.

  • Earnings per share: $3.12 vs. $2.87 expected

  • Revenue: $1.03 billion vs. $972.3 million expected

The robust second-quarter financial results were boosted by same-store sales growth. The US same-store sales increased by 3.5% compared to the year-ago period and the same-store sales in the foreign business grew by 13.9 percent year over year during the quarter.

“You’ve often asked if our sales growth might be weaker in markets that had more fully opened, the opposite trend emerged through the second quarter, where we saw higher levels of sales growth in the second quarter in the markets with fewer COVID-related restrictions,” said Domino’s CEO, Ritch Allison.

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Domino’s shares hit a new 52- high of $548 last week and surged more than 12% on Thursday after the company posted strong financial results. Meanwhile, the stock closed slightly lower on Friday.

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