Domino’s Pizza, Inc., the largest pizza company in the world based on global retail sales, reported that the revenue increased by 13.4%, in the second quarter of 2020.
Global retail sales increased 5.7% in the second quarter, or 8.1% excluding foreign currency impact. Global retail sales in the second quarter were positively impacted by U.S. same store sales, but were negatively impacted by temporary store closures in certain international markets. U.S. same store sales grew 16.1% during the quarter versus the year-ago period and were positively impacted by customer ordering behavior during the COVID-19 pandemic, continuing the positive sales momentum in the Company’s U.S. stores business. The international business also posted positive same store sales results, with growth of 1.3% during the quarter. The second quarter marked the 106th consecutive quarter of international same store sales growth and the 37th consecutive quarter of U.S. same store sales growth.
The company had second quarter net store growth of 84 stores, comprised of 39 net new U.S. stores and 45 net new international stores. The number of temporary store closures in certain of the company’s international markets has declined from its peak of approximately 2,400 temporary closures. Based on information reported to the company by its master franchisees, the company estimates that as of 8th July, 2020, there were fewer than 600 international stores temporarily closed.
Diluted EPS for the second quarter was $2.99, up 36.5% over the prior year quarter.
On 15th July, 2020, the company’s Board of Directors declared a $0.78 per share quarterly dividend for shareholders of record as of 15th September, 2020 to be paid on 30th September, 2020.
“Our focus as a global brand and the commitment of our local operators remains steadfast on serving our customers and our communities with a convenient, affordable and safe food and service experience,” said Ritch Allison, Domino’s Chief Executive Officer.
“I have never been more proud of our system of franchisees, operators and corporate team members for their continued passion and innovative spirit, which was evident during the second quarter,” continued Ritch Allison.