Net income rose 2.7% to $86.4 million, driven by higher
royalty revenues and supply chain volumes. Diluted EPS increased 5.1% to $2.05,
helped by higher net income and a lower share count, but came below analysts’ forecasts
of $2.07.
Global retail sales rose 5.8% during the quarter. Excluding
the negative impact from foreign currency exchange rates, global retail sales
grew 7.5%. US same-store sales grew 2.4% while international same-store sales
were up 1.7% in the quarter.
During the quarter, the company grew its global net store count by 214 stores, comprising 40 net new US stores and 174 net new international stores.
Domino’s announced a new outlook for the upcoming 2-3 year
period. Global retail sales is expected to grow 7-10%. Same-store sales are
expected to grow 2-5% in the US and 1-4% internationally. Global net store
growth is expected in the range of 6-8%.
On October
4, the Board of Directors declared a quarterly
dividend of $0.65 per share,
payable on December
27, 2019 to shareholders of record as of December
13, 2019. The board also authorized a new share repurchase
program to repurchase up to $1
billion of common stock.
As of September 8, 2019, Domino’s had approx. $66.7 million of unrestricted cash and cash equivalents and $3.44 billion in total debt.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.