Photo: Domino’s Pizza
Shares of Domino’s Pizza (DPZ) are up 3.4% today to $13.16 a share. Why?
Domino’s has its new pizza recipe to thank for that. The new taste has people buying more pizza from dominos and as a result, sales are up. Domino’s saw Q4 EPS of 30 cents vs the consensus of 25 cents. Here’s a few key facts:
- Q4 EPS 30 cents vs consensus of 25 cents.
- Q4 US same-store sales up 1.4%, international sales up 3.9%
- Sees long-term U.S. same-store sales of 1-3%.
The press release, below:
ANN ARBOR, Mich., March 2, 2010 /PRNewswire via COMTEX/ — Domino’s Pizza, Inc. (NYSE: DPZ), the recognised world leader in pizza delivery, today announced results for the fourth quarter and fiscal 2009, each ended January 3, 2010. During the fourth quarter, the Company’s domestic same store sales grew 1.4% as a result of increased store traffic. International same store sales grew 3.9% in the fourth quarter, marking the 64th consecutive quarter of same store sales growth for this division. Fourth quarter diluted EPS as reported was 41 cents, and was $1.38 for fiscal 2009. On an as adjusted basis, diluted EPS was 30 cents for the fourth quarter, a 58% increase over the fourth quarter of 2008, and was 87 cents for fiscal 2009, a 16% increase over fiscal 2008. During fiscal 2009, the Company repurchased approximately $189 million in principal amount of its fixed rate notes, and has repurchased approximately $239 million in principal amount over the past 14 months. Late in the fourth quarter of 2009, the Company successfully introduced a new core pizza product, continuing to build momentum for 2010.
David A. Brandon, Domino’s Chairman and Chief Executive Officer, said: “The bold steps we have been taking to re-ignite our domestic system helped us gain significant traction last year. We succeeded in our primary goal of growing traffic all four quarters of 2009. Traffic growth was the most significant in the fourth quarter; and this positive momentum has continued thus far in 2010, as sales and traffic have increased significantly since the launch of our new core pizza.”
Brandon added, “Our international business achieved yet another strong positive quarter. This division has now posted positive quarterly same store sales for 16 consecutive years. The international business is now nearly half of our global retail sales and will continue to be a powerful growth engine for our business going forward.”