They get their flour and cheese from inside the United Kingdom, so they’re concerned about crashing out after Brexit. Other companies are starting to do the same.
Domino’s Pizza’s U.S. same-store sales missed Wall Street estimates, sending shares tumbling ahead of the opening bell.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DPZ | DOMINOS PIZZA INC | 242.21 | +0.08 | +0.03% |
The pizza chain said sales at U.S. stores open at least a year rose 2.4 percent in the third quarter, the weakest in at least 15 quarters, according to Reuters. Analysts were expecting 2.84 percent growth, according to IBES data from Refinitiv.
Revenue and earnings also fell short of expectations. Total revenue rose 4.4 percent versus a year ago to $820.8 million, missing the $823.9 million that analysts were anticipating. Diluted earnings were $2.05 a share, shy of the $2.07 that was expected.
“It was a good quarter for Domino’s, as we continue to lean on our fundamental strength against a unique competitive environment,” said Ritch Allison, Domino’s CEO. “Strong unit growth and positive comps yielded a solid and balanced quarter of retail sales growth across both the U.S. and international businesses.
Looking ahead, Domino’s sees global retail sales growing 7 percent to 10 percent over the next two to three years and 8 percent to 12 percent over the next three to five years.
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Domino’s shares were down 2.3 percent this year through Monday.
