International units help drive '03 system sales up 5.8% at Domino's Pizza

March 24, 2004

ANN ARBOR, Mich.—Domino's Pizza, announced systemwide sales of $4.2 billion for the full-year 2003, ended Dec. 28, an increase of 5.8 percent.

According to a filing with the Securities and Exchange Commission, full-year domestic same-store sales increased 1.3 percent, while international same-store sales grew 4 percent (on a constant-dollar basis).

Income from operations rose 0.7 percent to a record $159.2 million, though net income dropped 36 percent to $38.8 million. According to the filing, the decrease was blamed on after-tax charges of $33 million incurred in connection with the chain's successful recapitalization last June.

For the year, domestic franchise comp-sales rose 1.7 percent, while company-store comp-sales slid 1.7 percent. Overall, company-owned stores generated $400 million in sales, while franchise stores brought in $3.8 billion.

For the year there were 7,427 Domino's operating worldwide, a net increase of 197 stores since the end of fiscal 2002; 141 of those units opened in international markets.

Income for the fourth quarter, ended Dec. 28, increased 3 percent to a company record $54.9 million, while net income decreased 8.1 percent to $21.3 million. Systemwide sales for the period totaled $1.3 billion, an increase of 9.6 percent.

Domestic same-store sales increased 5.1 percent (comprised of a franchise same-store sales increase of 5.3 percent and a company-owned same-store sales increase of 3.2 percent). According to the filing, the company's new Philly Cheese Steak Pizza, introduced in September, was the period's key sales driver.

International same-store sales increased 3.6 percent (on a constant dollar basis), marking 40 consecutive quarters of international same-store sales growth.

For related Domino's Pizza stories, click here.

Topics: Domino's Pizza , Public Companies

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