DPZ - Domino's Pizza Suspends 1100+ Global Net Store Outlook After Q2 Earnings Stock Tumbles | Benzinga
Domino’s Pizza Inc (NYSE:DPZ) shares are trading lower after the company reported worse-than-expected second-quarter revenue performance.
The company reported second-quarter FY24 sales growth of 7.1% year-on-year to $1.097 billion, missing the analyst consensus estimate of $1.103 billion.
The revenue increase was primarily due to higher supply chain, U.S. franchise advertising and U.S. franchise royalties and fees revenues.
The growth in supply chain revenues was attributable to higher order volumes, as well as an increase in the company’s food basket pricing to stores, but was partially offset by a shift in the relative mix of the products sold by the company.
Global retail sales increased 7.2%, excluding the impact of foreign currency. Same-store sales in the U.S. grew 4.8%, while International same-store ...