News
Economy hits Domino's domestic comps
October 13, 2008
ANN ARBOR, Mich. -- Comparable store sales at domestic Domino's locations fell 6.1 percent in the third quarter ended Sept. 7, the company announced. Comps at domestic company-owned stores fell 3.4 percent, while comps at domestic franchise stores fell 6.4 percent.
Comps at international stores increased 5.4 percent, the 59th consecutive quarter of comparable store sales growth.
Revenues for the 2008 third quarter fell 4 percent to $323.6 million from $337.3 million for the 2007 third quarter. Year-to-date revenues were $997 million, off slightly compared with revenues of $1 billion for the first nine months of last year.
Net income for the quarter was $10.1 million, off 8 percent compared with net income of $11 million for the 2007 third quarter. Year-to-date net income was $42.9 million, up 98 percent compared with net income of $21.7 million for the same period last year.
Domino's 2007 earnings included the impact of ongoing interest expense as a result of higher debt levels related to the company's recapitalization.
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