2Q U.S. comp sales sputter at Domino's Pizza, international sales sing

July 28, 2003

ANN ARBOR, Mich. -- Domino's, Inc., parent company of Domino's Pizza, announced that systemwide sales for its second quarter, ended June 15, 2003, rose 4 percent to a period record $940.8 million, driven by growth in international sales and unit increases.

According to a news release, U.S. same-store sales dropped 0.3 percent, comprised of a franchise comparable-store increase of 0.1 percent, and a company-owned comp-store decrease of 2.9 percent.

Year to date, Domino's company-owned store sales are off 4.3 percent (see related story Intl. sales at Domino's Pizza overcome weak U.S. sales for positive Q1 '03).

The company's international comp-store sales rose 2.6 percent on a constant-dollar basis, marking the 38th consecutive quarter of international comp-store sales growth. Of Domino's 7,291 total units, 2,429 are outside the U.S., which represents a net increase of 139 stores over the comparable period in 2002.

Though not publicly held, Domino's reported its earnings before interest, taxes, depreciation and amortization (EBITDA) increased 9.1 percent to a second quarter record of $45.5 million. Net income rose 62.3 percent to $17.5 million.

* In other Domino's news, the company appointed Paul Skinner vice president of its Asia/Australia region. He will oversee Domino's growth throughout Asia, the Pacific Rim basin, Australia and New Zealand. He will be based in Brisbane, Australia.

Skinner most recently oversaw the company's global new market development.

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