Domino's Pizza Nabs Bigger Slice of Pie
Stock quotes in this article:DPZ
ANN ARBOR, Mich. (TheStreet) -- Domino's Pizza(DPZ) is surpassing the competition, as profit surged 76% in its third quarter.
During the quarter, the company earned $17.8 million, or 31 cents a share, compared with $10.1 million, or 17 cents, in the year-ago period. Excluding a pre-tax gain of $14.3 million from retiring debt, profit was actually 17 cents a share, surpassing analysts' expectations of 15 cents. Revenue sank 6.5% to $302.7 million, while same-store sales remained flat domestically and grew 2.7% internationally. Shares of the company are up 2.5% in pre-market trading to $9.60. Last week rival Yum Brands(YUM), which owns direct competitor Pizza Hut, reported an 18% jump in third-quarter profit, receiving a big boost from sales in China. Stick with YUM!
But Pizza Hut saw a 13% plunge in its same-store sales. Several other restaurant concerns, including Chiptole Mexican Grill(CMG), Cheesecake Factory(CAKE) and McDonald's, are set to report earnings next week. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.>To order reprints of this article, click here: Reprints
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