Domino’s Pizza’s second-quarter revenue exceeds expectations, and the company’s stock price rises 13%.
Domino’s Pizza Inc. (DPZ) stated Thursday that it outperformed analysts’ forecasts in the second quarter, thanks to strong demand for pizza, new menu items, and increased menu prices.
Domino’s stock was trading at $534.53 at 12:59 p.m. ET on Thursday, up $64.16, or 13.64 percent.
In the United States, Domino’s reported a 3.5 percent increase in same-store sales.
The company’s net sales increased 12.2 percent to $1.03 billion, exceeding analysts’ forecasts of $972.3 million.
On a post-earnings call, Chief Executive Officer Ritch Allison said, “You’ve often asked if our sales growth might be weaker in markets that have more fully opened, the opposite trend emerged through the second quarter, where we saw higher levels of sales growth in the second quarter in markets with fewer COVID-related restrictions.”
[email protected] exceeded expectations in the second quarter, with revenue of $1.03 billion, up 6.7 percent from the forecast.
Analysts predicted a decline in sales as a result of the reopening, but demand for #pizza remained strong.
With a 10% gain, $DPZ soared to a new all-time high of $526! https://twitter.com/dmooia2Ejy pic.twitter.com/dmooia2Ejy
International sales surpassed forecasts, with countries like the United Kingdom and India relying largely on online ordering.
As more people order delivered meals as a result of the pandemic, Domino’s has benefited. It has also used contactless pickup and delivery, which has resulted in a reduction in delivery times.
The corporation has worked hard to maintain its momentum, opening 238 additional locations.
Domino’s will be able to enhance compensation in some markets and roles, according to Allison.