🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Domino's Pizza profit in line despite stormy U.S. winter

Published 01/05/2014, 13:51
Updated 01/05/2014, 14:32
MCD
-
DRI
-
YUM
-
DOM
-
PZZA
-

(Reuters) - Domino's Pizza Inc (N:DPZ) on Thursday reported quarterly profit that matched Wall Street's view as its U.S. business held up despite severe winter storms that forced diners to cut back on visits to many restaurant chains.

The second-largest U.S. pizza chain by store count reported first-quarter net income of $40.5 million (23.98 million pounds), or 71 cents per share, up from $34.4 million, or 59 cents per share, a year earlier.

Adjusting for a gain from the sale of company-owned restaurants, Domino's earned 68 cents per share in the latest quarter, matching the average of analyst estimates compiled by Thomson Reuters I/B/E/S.

Revenue rose 8.7 percent to $453.9 million during after sales at stores open at least one year gained 4.9 percent domestically and 7.4 percent internationally.

Domino's competes with Yum Brands Inc's (N:YUM) Pizza Hut, Little Caesars Pizza and Papa John's International Inc (O:PZZA) and had almost 5,000 domestic outlets and nearly 6,000 international stores at the end of the quarter.

Companies ranging from McDonald's Corp (N:MCD) to Olive Garden and Red Lobster parent Darden Restaurants Inc (N:DRI) blamed inclement winter weather for a drop in U.S. traffic last quarter.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Andrew Hay and Robin Paxton)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.