Domino’s Pizza U.S. same-store sales soar 16% as more consumers order delivery

Domino’s Pizza on Thursday reported that its quarterly U.S. same-store sales soared 16.1% as more consumers ordered pizza delivery and takeout during the coronavirus pandemic.

Share prices were largely unchanged.

Here’s what the company reported:

• EPS: $2.99 vs. $2.24 expected by Refinitiv’s consensus estimates
• Revenue: $920 million vs. $911.5 million expected expected by Refinitiv estimates

The pizza chain reported fiscal second-quarter net income of $118.7 million, or $2.99 per share, up from $92.4 million, or $2.19 per share, a year earlier. Analysts surveyed by Refinitiv expected $2.24 per share.

During the quarter ended June 14, net sales rose 13.4% to $920 million, topping expectations of $911.5 million.

U.S. same-store sales increased by 16.1%, while international same-store sales grew by just 1.3%, due to more store closures. Its international markets saw as many as 2,400 locations closed at its lowest point, but as of July 8, fewer than 600 of its restaurants were temporarily shuttered. 

Domino’s opened 39 net new U.S. locations and 45 net new international restaurants.

The company also announced that Chief Financial Officer Jeff Lawrence will retire once Domino’s finds his successor.

At a time when many companies have suspended their dividends, Domino’s will pay out a 78 cent dividend for shareholders on Sept. 30. The company has $248 million in cash and cash equivalents on hand, as of June 14.