Salem Radio Network News Monday, August 2, 2021

Business

Domino’s Pizza beats revenue estimates as U.S. sales remain steady

(Reuters) -Domino’s Pizza Inc beat market estimates for quarterly revenue on Thursday, as its new range of menu items, including cheeseburger and chicken taco pizzas, whipped up demand from Americans ordering food from the comfort of their homes.

Online sales have remained steady at several U.S. restaurant chains, including Chipotle Mexican Grill, even as Americans slowly return to their offices and dine out more.

Sales at Domino’s U.S. stores open for more than a year rose 3.5% in the second quarter ended June 20, compared with estimates of 1.3% decline, marking 41 consecutive quarters of increases.

International same-store sales growth of 13.9% was also well above the 8.9% jump expected by analysts.

That boost came from fresh lockdowns in countries, including the United Kingdom and India, where people relied on online ordering.

Total revenue rose to $1.03 billion from $920 million a year earlier. Analysts on average were expecting total revenue of $972.3 million, according to IBES data from Refinitiv.

On an adjusted basis, Domino’s earned $3.12 per share, beating estimates of $2.87.

Shares in the pizza chain, up 23% this year, rose 1% in premarket trading.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Anil D’Silva)

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