Domino’s Pizza has posted a net income of $109.3m for the second quarter (Q2) of 2023, an increase of 6.7% compared with $102.4m a year ago.
The company said the rise was primarily driven by higher income generated from operations.
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Revenues for the quarter fell by 3.8% to $1.024bn from $1.065bn in Q2 of last year.
This decline was primarily due to lower supply chain revenues attributable to a reduction in the firm’s market basket pricing to stores and reduced order volumes.
Income from operations surged 9.7% to $17.3m in the quarter compared with the year quarter.
Diluted earnings per share (EPS) was $3.08, which represents an increase of 9.2% over the year-ago quarter.
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By GlobalDataIn addition, Domino’s Pizza global retail sales increased 5.8% during the quarter of this year, excluding the negative effect of foreign currency.
Without the adjustment for the foreign currency impact, the firm’s global retail sales also rose 4.3% in the same quarter.
In Q2 2023, US same-store sales and international same-store sales (excluding foreign currency impact) grew 0.1% and 3.6%, respectively.
During the same quarter, the firm opened 253 gross stores and closed 56 stores.
Domino’s Pizza announced a $1.21 per share quarterly dividend on its outstanding common stock for shareholders.
Domino’s Pizza’s CEO Russell Weiner said: “We are executing our plan to restore delivery growth in the US.
“Our efforts to improve service and staffing while driving value and innovation will continue to make a difference in driving order counts in this important part of our business.
“We will also benefit globally from the deal we recently announced with Uber. Over two-thirds of our stores around the world will have the ability to take orders from Uber Eats.”
