PZZA - Domino's Pizza slides after U.S. sales disappoint Papa John's -2% as well

Domino's Pizza (NYSE:DPZ) trades lower after U.S. comparable sales fall short of expectations (-1.9% vs. +1.7%) in Q3. While the pizza chain ran up against its toughest comparable from the pandemic year of 2020, comparable sales were still up 15.6% in the U.S. vs. the 2019 level to show overall growth for the brand. Net income was up 21.5% for Domino's (DPZ) in Q3. The increase was primarily driven by higher income from operations resulting from higher global franchise revenues. DPZ says income also increased due to a lower provision for income taxes resulting from higher tax benefits from equity-based compensation from more stock option exercises in Q3 compared to a year ago. Domino's Pizza (DPZ) is 5.52% lower in premarket action. Shares of Papa John's International (NASDAQ:PZZA) are down 1.57% following the soft DPZ print.

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Domino's Pizza slides after U.S. sales disappoint, Papa John's -2% as well