Domino’s Pizza Inc. said on Tuesday that its same-store sales increased 9.5 percent in the second quarter ended June 18, continuing a remarkably strong run of sales growth for the Ann Arbor, Mich.-based chain.
It was the 25th consecutive quarterly increase in same-store sales and was the 10th quarter in the last 11 in which the company’s same-store sales increased at least 9.5 percent.
Over the past three years, Domino’s same-store sales have increased 32 percent. No other publicly traded company can boast those kind of sales numbers.
“It was another outstanding quarter for our domestic business,” CEO Patrick Doyle said in a statement.
Investors have been pouring money into Domino’s stock, which during the recession traded at less than $3 per share at one point. It closed trading on Monday at nearly $214 a share, up 35 percent year to date.
Yet the stock was down 3 percent in early morning trading Tuesday, in part because of a slowdown in the company’s international business — which has not had a decline in same-store sales since Bill Clinton’s first term, 94 straight quarters. International same-store sales increased 2.6 percent in the quarter.
Still, Doyle said, “we remain confident in our continued ability to generate best-in-class growth and are encouraged by the strong store growth we are seeing from our international franchisees.” Domino’s now has 14,217 global locations, 8,779 of which are in international markets.
Net income in the quarter increased 33.5 percent to $65.7 million, or $1.32 per share, from $49.3 million, or 98 cents. Revenues increased 14.8 percent to $628.6 million, from $547.3 million.
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