Domino's 4Q net up 28% on unit growth, sales increase
Domino’s Pizza Inc. reported Tuesday increased fourth-quarter and full-year profit on growth in its commissary business, more than 400 international openings, and global same-store sales increases.
For the fourth quarter ended Jan. 1, Domino’s reported net income of $30.9 million, or 52 cents per share, compared with $24.2 million, or 40 cents per share, a year earlier.
Revenue increased 4.5 percent to $501.7 million, driven by higher supply chain revenue resulting from commodity inflation, as well as higher same-store sales in the chain’s domestic and international divisions, Domino’s said.
Same-store sales rose 6.8 percent in the United States, including gains of 8.7 percent at domestic company-owned units and 6.6 percent at franchised locations. The international division’s same-store sales increased 4.7 percent for the quarter, marking the 72nd consecutive quarter of growth.
Full-year net income totaled $105.4 million, or $1.69 per share, compared with $87.9 million, or $1.35 per share, a year earlier.
Revenue for fiscal 2011 rose 5.2 percent to $1.65 billion. Domino’s 3.5-percent increase in domestic same-store sales included gains of 4.1 percent for the year at company-owned units and 3.4 percent at franchised locations. The international division posted its 18th consecutive year of annual same-store sales growth, with a 6.8-percent increase.
Full-year unit growth included 413 net openings in the international division, as well as 60 fewer company-owned stores in the United States, resulting primarily from sales of corporate units to franchisees.
Ann Arbor, Mich.-based Domino’s operates 394 restaurants in the United States and franchises another 9,348 locations domestically and abroad.