Domino's Pizza to Beat FY Mkt View, Shares Hit High

According to Reuters news service,  “Britain’s biggest pizza delivery chain, Domino’s Pizza UK & IRL (DOM.L), said it was on track to beat full-year expectations after strong trading in the third quarter, sending its shares to an all-time high on Thursday.”

“Chief Executive Chris Moore said marketing campaigns had played a major role in its success during the period. The company has completed the second year of a three-year sponsorship deal for TV phenomenon ‘Britain’s Got Talent’ and has also advertised during the hugely popular ‘X-Factor’. That has coincided with a period in which customers have increasingly opted to stay in and order takeaways rather than eating out to save money during the recession. Domino’s shares, which have outperformed the FTSE All Share Leisure & Travel index by 46 percent over the past 12 months, were up 2.2 percent to 298 pence at 0748 GMT, having earlier been as high as 307 pence, valuing the business at 480 million pounds ($765 million). The company, which operates the British and Irish franchises of the global home delivery brand, said like-for-like sales increased 10.8 percent in the third quarter, covering the 13 weeks to Sept. 27. For the 39 weeks to Sept. 27, comparable sales were up 8.3 percent.”