Revenue increased by 6.4% to $835.96 million. The increase was due primarily to higher supply chain volumes resulting from higher retail sales. Higher same-store sales and store count growth in both the company’s US and international markets also contributed to the increase in revenues.
Global retail sales increased by 4.6% in the first quarter. US same-store sales grew 3.9% from a year ago, continuing the positive sales momentum in its US business. The international division also posted positive results, with same-store sales growth of 1.8% during the quarter.
The first quarter marked the 101st consecutive quarter of international same-store sales growth and the 32nd consecutive quarter of US same-store sales growth. The company had first-quarter global net store growth of 200 stores, comprised of 27 net new U.S. stores and 173 net new international stores. Globally, the company opened its 16,000th store during the first quarter.
For the first quarter, revenue from domestic company-owned stores rose by 2% to $123.5 million, and domestic franchise royalties and fees increased by 8% to $96.7 million. Supply chain revenue grew by 7% to $472.1 million. International franchise royalties and fees rose by 4% to $54.6 million and revenue from domestic franchise advertising inched up by 8% to $89.1 million.
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During the first quarter of 2019, the company repurchased and retired 33,549 shares of its common stock under its board of directors-approved open market share repurchase program for about $8.1 million. As of March 24, 2019, the end of the first quarter, the company’s total remaining authorized amount for share repurchases was about $150.6 million.
On April 23, 2019, the company’s board of directors declared a quarterly dividend of $0.65 per share. The dividend will be paid on June 28, 2019, to the shareholders of record as of June 14, 2019.
Shares of Domino’s Pizza ended Tuesday’s regular session up 1.58% at $270.20 on the NYSE. Following the earnings release, the stock inched up over 6% in the premarket session.