Domino's Slashes Full-Year Sales Outlook as Same-Store Sales Miss Across the Board
DPZ is trading near its 52-week low of $282 (5.8% above the low).
Summary
Domino's cut its full-year sales guidance, now expecting US same-store sales at the low end of low-single-digit growth and international comparable sales about flat, down from prior low-single-digit growth. Q3 US same-store sales rose just 0.3% (vs 0.71% expected) and international grew 0.2% (vs 0.88% expected), confirming the demand slowdown. CEO Joe Jordan, on the job only weeks, cited macro overhang and cautious consumers, and said the company aims to restore profit and order-count growth. The stock fell about 3% in early trading. This follows the Q3 earnings release earlier today, but the guidance cut and same-store sales misses are new and material.
At the time of this announcement, DPZ was trading at $298.39 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $9.9B. The 52-week trading range was $282.00 to $442.35. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.