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We just got the July NPD numbers and the QSR pizza category traffic trends improved sequentially to down only 0.6% from June’s 2.5% decline and 2Q08’s 1.7% decline. DPZ is facing easier same-store sales comparisons in 2H08 of 0.8% and -1.1% from 3Q07 and 4Q07, respectively, relative to the 4.4% number the company just lapped in 2Q08. This sequentially better number does not even account for the Olympics, which should also drive incrementally stronger results for the QSR pizza category in 3Q08.

DPZ’s CEO, David Brandon, stated on its last earnings call, “As it relates to the Olympics, any time people are sitting in front of a television set, glued to things that are happening, that's good for our business. It's good for pizza delivery and it's good for Domino's. So as it relates to the Olympics, without going any further in terms of any of our plans and programs during that timeframe, I can tell you we're looking forward to it because usually that's a great opportunity for us.”