News

Domino's Pizza reports flat U.S. sales for Q3 ''03

October 22, 2003

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ANN ARBOR, Mich.—Third quarter domestic same-store sales at Domino's Pizza were flat compared to the prior period in 2002.

According to a news release, during the period, ended Sept. 7, 2003, domestic same-store sales increased 0.5 percent, comprised of a franchise store increase of 0.9 percent and a company-owned store decrease of 2.4 percent.

An international same-store sales increase of 4.8 percent, on a constant dollar basis, marked the 39th-consecutive quarterly same-store sales increase for the chain's overseas arm.

System-wide sales increased 5.5 percent to a third quarter record of $927 million (consisting of $82.4 million at domestic company-owned stores and $844.6 million from domestic and international franchise stores). According to the release, the increase came primarily from growth in worldwide store counts and same-store sales gains.

The company posted a net income loss of $18.3 million, down $7.5 million from the comparable period last year when net income was $10.8 million. The drop was attributed to reduced operating income and roughly $36 million of expenses connected to a recapitalization initiative.

At the end of the period there were 7,332 Domino's stores worldwide, a net increase of 194 units over the comparable period last year.

Net growth in international units was 130, making a total 2,457 Domino's stores operating outside the U.S.