Domestic same-store sales rose 13 percent at Domino’s Pizza Inc. in the third quarter ended Sept. 11, the company said on Tuesday, sending both its earnings — and its stock price — skyward.
The company’s stock price rose more than 3 percent in early morning trading, helping it to hit an all-time high of more than $156 per share Tuesday. The stock is up 41 percent so far this year.
Net income at the Ann Arbor, Mich.-based pizza delivery chain rose 24.8 percent to $47.2 million or 96 cents per share, from $37.8 million or 67 cents, as the company reported higher margins due largely to the increase in sales.
“We continued to execute at a very high level during the third quarter, as our unprecedented momentum, steady strategy and alignment with our outstanding franchisees is helping to take the business to new heights,” Patrick Doyle, the chain’s CEO, said in a statement. “I couldn’t be more pleased with the way our system continues to answer the challenge of sustained success.”
Revenues rose 16.9 percent to $566.7 million from $484.7 million thanks to the addition of new stores and that same-store sales growth.
The chain has added 1,133 locations over the past year, including 161 in the U.S., mostly by franchisees. The chain now has 13,252 global locations and 5,273 U.S. units.
Domino’s same-store sales are on an incredible run. Its domestic same-store sales have risen for 22 straight months, with only one blemish since the end of the recession.
On a two-year basis, its same-store increased 23.5 percent. On a three-year basis, its same-store sales are up 31.5 percent.
Same-store sales rose 6.6 percent in international markets — the 91st straight quarter of international growth for the concept.