Domino’s Pizza Inc. delivered sharp gains for its shares Monday, after the pizza chain logged a profit beat for its latest quarter, amid strength in both delivery and carryout sales. What helped drive results that its rewards program increased by 3 million active members, or 10%, to end 2023 with 33 million active members.
“A big driver of the increase in active members, as well as the early success of the program, was our ‘emergency pizza’ promotion, which was an innovative marketing initiative that drove increased order counts and acquisition of customers into Domino’s Rewards,” said Chief Executive Russell Weiner, according to an AlphaSense transcript of the post-earnings call with analysts. The stock
DPZ,
+6.74%
shot up 5.9% in morning trading, putting it on track for the highest close since Jan. 19, 2022. The company logged fiscal fourth-quarter net income of $157.3 million, or $4.48 a share, compared with net income of $158.3 million, or $4.43 a share, in the year-earlier period. Analysts tracked by FactSet had been modeling $4.38 in earnings per share. Net income slipped while EPS increased because the number of shares used to calculate EPS declined to 35.14 million from 35.72 million. The company spent $269 million on share repurchases in 2023. Revenue edged up 0.8% to $1.40 billion, whereas analysts were looking for $1.42 billion. The company saw 2.8% U.S. same-store-sales growth in the fourth quarter, along with 0.1% same-store-sales growth internationally, when excluding currency impacts. The FactSet consensus was for …
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“A big driver of the increase in active members, as well as the early success of the program, was our ‘emergency pizza’ promotion, which was an innovative marketing initiative that drove increased order counts and acquisition of customers into Domino’s Rewards,” said Chief Executive Russell Weiner, according to an AlphaSense transcript of the post-earnings call with analysts. The stock
DPZ,
+6.74%
shot up 5.9% in morning trading, putting it on track for the highest close since Jan. 19, 2022. The company logged fiscal fourth-quarter net income of $157.3 million, or $4.48 a share, compared with net income of $158.3 million, or $4.43 a share, in the year-earlier period. Analysts tracked by FactSet had been modeling $4.38 in earnings per share. Net income slipped while EPS increased because the number of shares used to calculate EPS declined to 35.14 million from 35.72 million. The company spent $269 million on share repurchases in 2023. Revenue edged up 0.8% to $1.40 billion, whereas analysts were looking for $1.42 billion. The company saw 2.8% U.S. same-store-sales growth in the fourth quarter, along with 0.1% same-store-sales growth internationally, when excluding currency impacts. The FactSet consensus was for …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]