A Domino’s Pizza restaurant is seen in Los Angeles, California, U.S. July 18, 2018. REUTERS/Lucy Nicholson
Domino’s Pizza Inc (DPZ.N) missed Wall Street estimates for quarterly revenue on Thursday, as demand for its pizzas weakened after coronavirus-led restrictions were eased in the United States, sending shares down 3%.
The world’s largest pizza chain was pressured by competition from those including McDonald’s Corp (MCD.N) and Chipotle Mexican Grill Inc (CMG.N), as the roll-out of vaccines and easing lockdowns encouraged consumers to dine out at restaurants.
Total revenue rose to $983.7 million in the first quarter from $873.1 million a year earlier, compared with estimates of $984.77 million, according to IBES data from Refinitiv.
Net income fell to $117.8 million, or $3 per share, from $121.6 million, or $3.07 per share, a year earlier.
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