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Domino's comps down, profit up
April 28, 2008
ANN ARBOR, Mich. — Comparable-store sales at domestic Domino's restaurants fell 5.2 percent in the first quarter ended March 23, the company announced. Comps at domestic company-owned stores fell 2.4 percent while comps at domestic franchise stores fell 5.5 percent.
Comps at Domino's international restaurants rose 8.8 percent for the quarter.
First-quarter revenues were $339 million, flat compared with the 2007 first quarter. Net income for the quarter was $14.1 million, up 68 percent compared with net income of $8.4 million reported for the same quarter last year.
The net income gain was primarily due to recapitalization expenses incurred during the first quarter of 2007.
"Reversing the negative traffic trends in our domestic business is our highest priority," said David A. Brandon, Domino's chairman and CEO."We're taking aggressive action to create a stronger value positioning for our brand, while testing a number of additions to our menu that will allow us to compete more effectively in dayparts other than just dinner."
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