In one of my previous Domino's Pizza (NYSE:DPZ) articles entitled Why Domino's 'Boring' Quarter Was Fantastic, I remarked that the brand building and execution going on with the company still has a long way to go. I stated:
[CEO Patrick] Doyle calmly explained, "We've got the brand right, the food right, the digital side of this right and that's really the momentum growth." He made it clear that it wasn't any particular new menu item that drove it such as the new specialty chicken launch. It is just old-fashioned great execution.
The third quarter report was as "boring" as can be, meaning, yet another out of the park homerun delivery which Doyle referred to last quarter as boring, obviously somewhat tongue-in-cheek meaning there wasn't too much negative drama or problems associated with many other companies in the food business lately.
Domestic same-store sales soared 7.7%. International same-store sales jumped 7.1%, marking the 83rd quarter in a row of increases. Adjusted EPS popped 23.5% to $0.63, beating analyst estimates by two pennies. Doyle stated:
"Great people, food, service and technology have helped us deliver another strong quarter of global sales and profits. Our franchisees continued to drive vigorous store growth worldwide and have embraced our 'Pizza Theater' store reimage program in neighborhoods around the world."
Chalk up another winning quarter for Domino's Pizza. I'm confident that the company is far from done growing.
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