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Domino's Posts Q4 Comp Dip

ANN ARBOR, MI-The pizza giant's U.S. comps were down, but overseas locations are doing better.

By Dees Stribling | Updated on February 22, 2005

ANN ARBOR, MI-Americans didn’t buy much more pizza from Domino’s Pizza Inc. in the fourth quarter of 2004 (ended Jan. 2, 2005), compared with the same period in 2003, but people in other countries did. Domestic same-store sales at the delivery giant decreased 0.2%, comprised of flat domestic franchise same-store sales and a domestic company-owned same-store sales decrease of 2%; but international same-store sales increased 5.9% on a constant dollar basis. Currently, there are just over 5,000 U.S. Domino’s stores, compared with about 2,750 in other countries.

For the entirety of 2004, Domino’s domestic same-store sales increased 1.8%, comprised of a franchise same-store sales increase of 2.1% and a company-owned same store sales increase of 0.1%. The majority of U.S. Domino’s are franchise operations, with only about 580 company-owned stores currently in the U.S. Mirroring the trend in the fourth quarter, however, international same-store sales were considerably stronger, increasing 5.9% on a constant dollar basis.

Despite the sluggish Q4 U.S. comps, David Brandon, chairman and CEO of the chain, said during Tuesday’s earnings conference call that the company “met or exceeded all of our long-term guidance in 2004. We’re off to a creditable start.” Domino’s has only been a public company since July 2004, when it made an IPO at $14 per share. As of the end of the day yesterday, it was trading at $17.67.

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