Domino’s Pizza Inc.
DPZ,
-1.27%
reported second-quarter net income totaling $102.5 million, or $2.82 per share, down from $116.6 million, or $3.06 per share, last year. Revenue of $1.065 billion was up from $1.032 billion. The FactSet consensus was for EPS of $2.91 and revenue of $1.050 billion. U.S. same-store sales fell 2.9% while international same-store sales, excluding foreign currency impact, was down 2.2%. The FactSet consensus was for a U.S. same-store sales decline of 5% and international same-store sales decline of 0.3%. “We continued to navigate a difficult labor market, especially for delivery drivers, in addition to inflationary pressures combined with COVID and stimulus-fueled sales comps from the prior two years in the U.S.,” said Chief Executive Russell Weiner in a statement. Domino’s now expects fiscal 2022 food basket costs to be up 13% to 15% versus 2021, up from previous guidance of a 10%-to-12% rise. And currency exchange and royalty fees for the year are now expected to be up $22 million to $26 million versus 2021, compared with previous guidance for a $12 million-to-$16 million increase. Domino’s stock edged up 0.7% in Thursday premarket trading, and has dropped 27.2% for the year to date.

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