Domino’s Pizza 3Q Revenue Jumps, Tops Estimates

According to Business Week, “Pizza delivery company Domino’s Pizza Inc. on Tuesday posted a 7 percent drop in third-quarter net income as it booked smaller one-time gains but said revenue surged as its new pizza recipes were snapped up by more Americans.”

“The company has revamped its pizza recipes and heavily advertised the changes. Domino’s credited the quarter’s 11.7 percent jump in sales from stores open at least a year to its improved pizza and effective advertising. ‘We’re pleased that people love our reformulated pizza, the value of our offer and our honest and straightforward communication of our brand values,’ said President and CEO J. Patrick Doyle. ‘We’re a new Domino’s. This quarter has proven that our strategy is working.'”

“Net income for the three months ended Sept. 12 fell to $16.6 million, or 27 cents per share, from $17.8 million, or 31 cents per share last year. The year-ago period benefited from a hefty gain of 50 cents per share for paying off debt, versus a much smaller 9-cents-per-share gain in the latest period.”