Overall, I don't see any reason to be overly concerned about the soft Q1 performance, and the silver lining was that online carryout has seen 24% growth since Q1 2019, which generates a higher ticket with lower costs than phone carryout. This helped to lift three-year stacked global retail sales to 23.5%, pointing to healthy demand from a big picture standpoint. In fact, its international business was able to lap a difficult year-over-year comp of 11.8% (Q1 2021), translating to a two-year stacked same-store sales growth rate of 13.0%, offsetting the tough start to 2022 in the domestic business. In addition, the company wasn't up against easy comps by any means, lapping government stimulus in the year-ago period, which translated to 13.4% US same-store sales growth.įortunately, while it was a rough quarter for US growth, the company did manage to increase global retail sales by 3.6%, and its international business saw its 113th consecutive quarter of positive same-store sales. However, while this looks ugly from a headline standpoint, it's important to note that the company has approximately six days lost in Q1 when adding in all the lost operating hours, with impacts from staffing shortages and the surge in Omicron in January.
DOMINO PIZZA ONLINE PLUS
The softness in the domestic business was related to fewer orders, offset by a higher average ticket from increased menu pricing and more items per transaction, plus a higher delivery fee. franchised stores.ĭomino's - Quarterly Revenue (Company Filings, Author's Chart) In fact, US same-store sales fell 3.6% year-over-year, dragged down by company-owned restaurants, which had more conservative price increases vs. While the company's international business performed solidly and unit growth has continued at a torrid pace (19,000th store opened near quarter-end, and 213 stores opened in Q1), its domestic business failed to meet expectations. This was evidenced by revenue increasing just 3% year-over-year to ~$1.01 billion and quarterly earnings per share diving 17% despite an aggressive buyback program. Let's take a closer look below: Q1 Resultsĭomino's released its Q1 results in April, reporting a rare miss for the company. This is partially attributed to a rough quarter for the company with negative US same-store sales, but also due to a backdrop for the restaurant sector that has seen little improvement and arguably further degradation. Since then, the stock has taken a significant tumble, enduring a drawdown of more than 35%, and massively underperforming the S&P 500. Just over five months ago, I wrote on Domino's Pizza ("Domino's"), noting that while the company was enjoying outstanding growth internationally, there was no way to justify paying above $530.00 for the stock. Although the valuation has improved considerably, I would disagree, and I believe the more attractive entry would be waiting for a re-test of its recent low at $321.00. Some investors might believe that this is the deal of the decade for the stock, rushing to pay up for the stock here at $380.00 after its recent bounce.
a low double-digit decline for the market.
In fact, the stock has massively underperformed the S&P-500 since December, declining over 30% vs. It's been a turbulent first half of 2022 for the market, and while some stocks like Super Micro Computer ( SMCI) have managed to go against the grain, Domino's Pizza ( NYSE: DPZ) has not fared nearly as well. Customers can order any size pizza or any of the crust varieties available at Domino's, including pan, Brooklyn, gluten-free or crispy thin crust.Justin Edmonds/Getty Images Entertainment The 50% off pizza deal is a great time to try some of Domino's great specialty pizzas, such as the ExtravaganZZa, MeatZZa or the Honolulu Hawaiian. Domino's AnyWare ordering including through Google Home, Alexa, Slack and Facebook Messenger.Domino's ordering apps for iPad, iPhone, Android and Kindle Fire.With half off pizza, everyone can celebrate with a food they love at a great price."ĭomino's 50% off deal is available on menu-priced pizzas ordered through the following online ordering channels: "There's no better way to celebrate summer than by enjoying a delicious pizza by the pool or at a picnic. "With wallets being squeezed and summer gatherings starting up, we thought this was a good time to bring back this tremendous deal," says Joe Jordan, Domino's president -U.S. Hungry pizza fans can take advantage of 50% off menu-priced Domino's pizza when they order online between June 6-12. Domino's Pizza, Inc., the largest pizza company in the world, knows that pizza lovers always want the best deal, and starting today, they can take advantage of one so special, it hasn't been offered in more than two years.
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