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Domino's Q1 2010 results boast best-in-class comps results
May 3, 2010
Domino's Pizza domestic first quarter same store sales grew a whopping 14.3 percent following its recent campaign introducing a new pizza recipe.
International same store sales grew 4.2 percent in the first quarter, marking the 65th consecutive quarter of same store sales growth for its international division.
"Our international division kept up its phenomenal growth trajectory again this quarter, with continued success in our existing markets, along with new markets expected to open in Europe, Asia and Latin America yet in 2010," said president and CEO J. Patrick Doyle. "I think we have by far the best international story in the sector."
Net income in the first quarter was up $0.7 million, from $23.8 million in Q1 ‘09 to $24.5 million in Q1 '10, an increase of 3.2 percent. The increase was driven primarily by improved sales and operating margins, international store growth and lower interest expense.
Revenues were up 18.4 percent for the first quarter vs. the prior-year period, from $321.8 million to $381.1 million.
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