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Domino's comps fall in 1Q
May 1, 2007
ANN ARBOR, Mich. — Same-store sales at Domino's Pizza Inc. restaurants in the United States fell 2.9 percent in the first quarter ended March 25, 2007, compared with a drop of 3.8 percent in the first quarter of 2006, the company announced.
Comps at domestic company-owned stores increased 0.6 percent, while comps at domestic franchised stores fell 3.4 percent
Same-store sales at Domino's international restaurants increased 3.8 percent in the first quarter compared with an increase of 3 percent for the 2006 first quarter. Despite the increase in international comps, overall revenues from international operations fell 14 percent, primarily due to the sale of company-owned operations in France and the Netherlands in the third quarter of 2006.
Revenues for the quarter were $339.3 million, down 2 percent from revenues of $347.7 million a year ago. Net income for the quarter fell 68 percent to $8.4 million compared with net income of $26.2 million for last year's first quarter.
Much of the earnings decrease was attributed to expenses related to the company's recently-completed recapitalization.
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