Domino’s Pizza misses U.S. same-store sales estimates -Breaking
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© Reuters. FILEPHOTO: This is a Domino’s Pizza location in Los Angeles, California on July 18, 2018. REUTERS/Lucy Nicholson/File Photograph (Reuters) – Domino’s Pizza Inc (NYSE:) missed Wall Street’s quarterly U.S. sales estimates on Thursday. This was due to a widening reopening for dine-in and labor shortages.
In premarket trading, the shares fell 8%
U.S. restaurants are having difficulty keeping their employees from moving to higher-paying positions in the recent months. Domino’s offered consumers $3 off their online order, due to labor shortages during quarter.
Domino’s chief executive officer Ritch Allison stated in a statement that they faced “a lot of headwinds” during the quarter.
From $117.8million, which was $3 per share a year ago, net income dropped to $91 million or $2.50 per shares in the first quarter.
According to Refinitiv, analysts had forecasted a decline of 0.6% for the U.S.’ largest pizza chain. However, it reported that U.S. Same-Store Sales fell 3.6%.
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