Domestic same-store sales grew 10.5% during the quarter from the year-ago period. At the same time, the international division posted strong results, with same-store sales growth of 7.7%, marking the 87th consecutive quarter of international same-store sales growth.
Revenues grew 8.5% for the third quarter versus the prior-year period, driven by higher supply chain volumes and sales of equipment to stores in connection with Domino’s global store reimaging program. Higher domestic same-store sales and store count growth, which resulted in increased royalties from franchised stores and higher revenues at company-owned stores, also contributed to this increase. However, this increase was not enough for the analysts and shares ultimately fell.
In this quarter the company had a global net store growth of 194 stores.
During this quarter, Domino’s repurchased 365,460 shares for a total of roughly $40.9 million. The board of directors also declared a $0.31 dividend per share, which will be paid on December 30, for shareholders on record as of December 15.
J. Patrick Doyle, president and CEO of Domino’s, commented on earnings:
We are pleased with the sustained strong sales and continued momentum behind store growth. The things we are doing are working, and we will continue to aggressively lead the industry.
On the books, the company has $123.5 million in cash and cash equivalents, compared to $151.8 million at the end of December 2014.
Shares of Domino’s were down 3.2% to $104.54 Thursday just after the opening bell. The stock has a consensus analyst price target of $119.62 and a 52-week trading range of $75.64 to $119.73.
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