Record Third Quarter 2001 Results And Strong Same Store Sales Growth
ANN ARBOR, Mich - Oct 23, 2001 - Domino's, Inc., the world leader in pizza delivery, today announced record operating results for the third quarter of 2001, which ended September 9, 2001.
"I continue to be proud of our very strong performance as a company, especially given the challenges we face in our highly competitive category," said David A. Brandon, Chairman and Chief Executive Officer. "But I am more proud of how our franchisees and team members responded to the horrific tragedies of September 11th.
"A number of franchisees and team member volunteers kept stores open 24 hours a day in the week following the attacks, delivering food to rescue relief workers in New York City and Washington, D.C. We continue to provide food to rescue workers, when they call upon us. A representative from the Office of Emergency Management in New York thanked us for continuing to provide what she referred to as 'comfort food.'
"In addition, Domino's Pizza stores throughout the country responded exactly as I expected them to," Mr. Brandon continued. "I've learned of dozens and dozens of instances where stores pitched in, delivering food to blood banks to feed those Americans who donated blood in the weeks following the tragedies. Store team members and franchisees have joined us in our company's matching funds program for the American Red Cross Disaster Relief Fund. I've even heard accounts of pizza delivery drivers donating their tips because they want to help in any way they can.
"I am inspired, but not surprised, by the caring and generous attitude of Domino's team members and franchisees."
Financial Highlights
- The following are highlights for the third quarter of 2001 compared to the same period in 2000.
Net income increased 66.7% to $7.9 million. - Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 7.5% to a third quarter record of $36.0 million.
- Domestic same store sales increased 4.0%, comprised of a 6.6% increase in Company-owned same store sales and a 3.6% increase in domestic franchise same store sales.
- International same store sales increased 3.2% on a constant dollar basis, marking the 31st consecutive quarter of international same store sales growth.
- System-wide sales increased 6.3% to $856.8 million.