Domino’s (DPZ) posted fourth quarter results that mostly missed Wall Street’s expectations.
On Monday before market open, the pizza chain reported that revenue increased 2.9% year-over-year to $1.44 billion in the fourth quarter, driven higher by a 4.4% increase in the food and cardboard costs for stores, in addition to higher order volumes. Same-store sales increased 0.4%, instead of the 1.72% jump the street predicted. Adjusted earnings came in lower too, at $4.89 per share, compared to an estimate of $4.93.
For the full year, Domino’s missed on revenue and earnings too, but beat slightly on international same-store sales growth with an increase of 1.6%. 2024 marked the 31st consecutive year of same store sales growth.
In the release CEO Russell Weiner said its value strategy, dubbed Hungry for MORE, drove “strong order count growth, even in the face of a challenging global…
