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With Tuesday’s growth, Domino’s shares are now in positive territory for the year
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Domino’s reported quarterly earnings that exceeded analysts’ forecasts, aided by promotions and the popularity of its stuffed-crust pizza.
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Last week, Domino’s revealed a rebranding initiative, including a fresh jingle from Grammy-nominated artist Shaboozey.
There’s a flavorful reason for Domino’s Pizza’s better-than-anticipated earnings.
The pizza delivery leader attributed its robust quarterly performance to the demand for its stuffed-crust pizza and various promotional efforts.
Domino’s (DPZ) reported earnings per share of $4.08 for the third quarter, with revenue increasing 6.2% year-over-year to $1.15 billion. Both results surpassed expectations from analysts curated by Visible Alpha, with CEO Russell Weiner crediting growth in delivery and takeout services partially to the innovation of their “stuffed crust pizza product.”
Robust sales at well-known fast-food brands like Domino’s may signal strong consumer spending and a healthy economy.
Shares of Domino’s surged nearly 4% in recent trades following this news, which coincides with a week after the company unveiled a brand refresh aimed at engaging younger consumers, which includes updates to its brand appearance and a new jingle by Shaboozey.
Thanks to Tuesday’s gains, Domino’s shares have reclaimed positive momentum for the year.
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