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Domino's net falls 48 percent
February 25, 2008
ANN ARBOR, Mich. — Same-store sales for No. 2 pizza chain Domino's Inc. fell 3.5 percent for domestic stores, and grew 9.5 percent for international stores, for the fourth quarter ended Dec. 30, 2007, the company announced. Same-store sales for domestic company-owned stores fell 1.1 percent, while same-store sales for domestic franchised stores fell 3.9 percent.
For the year, same-store sales for domestic stores fell 1.7 percent and increased 6.7 percent for international stores. Same-store sales at domestic company-owned stores increased 1 percent for the year, while same-store sales at domestic franchised stores fell 2.1 percent.
"The combination of unprecedented cost inflation and cautious consumer spending continues to create significant challenges for us in our domestic market," said David A. Brandon, Domino's chairman and chief executive officer.
Revenues for the fourth quarter were $445.9 million, up 2 percent compared with revenues of $435.3 million in the 2006 fourth quarter.For the full year, revenues were $1.5 billion, up 7 percent compared with revenues of $1.4 billion the previous year.
Net income for the quarter was $16.2 million, down 48 percent from net income of $31 million in the 2006 fourth quarter. For the year, net income was $37.9 million, down 64 percent compared with net income of $106.2 million in 2006.
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