![]() "We are a work-in-progress brand," Allison said. 1 pizza chain in global sales, surpassing Pizza Hut in 2017. Since becoming CEO in 2010, Doyle had propelled Domino's to the No. Domino's Farms is expected to pay for the $7.8 million building for use by April 30.Īllison, formerly head of Domino's international business, took over for Patrick Doyle in July. The renewal includes construction of a new 33,000-square-foot building called the Annex with a 130-space parking lot in the Ann Arbor office park. In October, the company also renewed its lease with Domino's Farms Office Park at an annual cost of $7.9 million, according to a government filing. In July, Domino's said it also was accelerating plans to open two more centers for operation in early- to mid-2020. In 2018 so far, the company has added 498 net new stores.Īs a result of the growth, the company opened its first supply chain center in more than a decade in Edison, New Jersey. The company had two stores close in the U.S. Domino's Chief Financial Officer Jeff Lawrence said the company saw growth in all regions except its European business, though Allison said he is optimistic about opportunities in Russia.ĭomino's added 232 net new stores in the third quarter consisting of 59 U.S. ![]() ![]() ![]() International same-store sales, on the other hand, beat the expected 3.2 percent, growing 3.3 percent from last year for a 99th consecutive quarter of growth. "We're focused on our own growth strategy," Allison said, "and not the short-term ups and downs of any competitor." Allison said Papa John's has a small share of the market and its effect "isn't necessarily as heavy as one might assume." They were up 6.3 percent, the 30th consecutive quarter of growth.įollowing controversial comments made by now-former Papa John's Pizza chairman John Schnatter, analysts expected Yum! Brands' Pizza Hut to benefit the most. Domino's sales totaled $786 million.ĭomestic same-store sales, according to Consensus Metrix, which analyzes market estimates, missed the 6.5-percent growth analysts had expected. That beat Wall Street's expectations of $1.75 per share, according to Zacks Investment Research, but revenue fell short of the expected 23 percent spike to $790 million. They take hard work each and every day."ĭomino's stock price is up 47 percent over the past year, though its shares dropped 5 percent to $259.41 Tuesday afternoon after the company's revenue and domestic same-store sales missed Wall Street's expectations.ĭomino's reported $1.95 diluted earnings per share for the third quarter. "Many of you have told us we make this look easy at times, but the retail results, franchisee energy and the momentum within our system don't come easily. "My first three months on the job have only reinforced my point of view on what it takes to succeed in this business," Allison, the company's CEO, said on a call with analysts. The quarter benefited from higher global royalties and supply-chain volumes from increased sales as well as tax cuts and the sale of 12 company-owned stores to franchisees. Ann Arbor – Domino's Pizza shares fell Tuesday following mixed results on its quarterly earnings for Ritch Allison's first few months in leadership.įor the third quarter of 2018, the Ann Arbor-based pizza chain reported a profit of $84.1 million, up 49 percent from the same quarter in 2017.
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