ANN ARBOR, Mich. — Domestic same-store sales at Domino's Pizza
fell 3.1 percent for the third quarter ended Sept. 10, 2006. According to a regulatory filing, sales slid 2.3 percent at corporate units, and 3.2 percent at franchised units.
Net income for the period was rose 20.9 percent to $24.5 million versus $20.3 million in the comparable period last year. Revenue, however, fell 3.2 percent to $326.7 million versus $337.6 million.
For the first three quarters of the year, net income was $75.2 million versus $68 million, while revenue was $1 billion versus $1.05 billion.
Third-quarter international comparable-store sales rose 3 percent versus 4.5 percent last year. Revenue for the group fell 8.4 percent primarily due to the sale of company-owned operations in France and the Netherlands to master franchisee Domino's Pizza Australia & New Zealand.
"Our goal will always be to grow our sales regardless of external factors, but we were not able to accomplish this during the third quarter," said David A. Brandon, Domino's chairman and chief executive officer. "However, we were able to maintain strong earnings growth despite our weaker-than-expected same-store sales. We continue to benefit from the growth of our international business, and the cost-management programs we have implemented throughout our business units."