Domino's Stock Falls After Pizza Giant's Sales Miss Estimates

Domino’s Pizza (DPZ) shares sank successful intraday trading Thursday aft nan pizza-delivery elephantine reported gross that missed expectations and pulled backmost description plans overseas.

The institution posted second-quarter gross a tick nether $1.1 billion, up 7.1% year-over-year but conscionable beneath nan statement estimate of analysts compiled by Visible Alpha.

Domino's nett income roseate almost 30% to $142 million, aliases $4.03 per share, beating estimates. Much of nan profit maturation was owed to an accounting effect, nan institution said.

U.S. same-store sales precocious 4.8%, while they were up 2.1% successful world markets. Chief Executive Officer (CEO) Russell Weiner said nan summation was accomplished by “profitable bid count growth.”

Domino's Warns of Missing Goal for Net New Stores Worldwide

The institution warned that it now anticipates that it will miss its full-year extremity of astatine slightest 925 nett caller stores internationally by 175 to 275 stores, citing "challenges" successful openings and closings astatine 1 of its cardinal franchisees, Domino’s Pizza Enterprises.

Domino's said it was "temporarily suspending" its guidance for astatine slightest 1,100 nett caller world stores. It near untouched its gross and operating profit guidance for nan year.

The banal was down 12% to $415.41 arsenic of soon aft 11 a.m. ET Thursday, leaving nan shares astir level twelvemonth to date.

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