Better than BAD
We recently added DPZ to the LONG bias list
For the third quarter, DPZ posted mixed results on EPS and revenue. Diluted EPS decreased 13.9% from the prior year to $2.79 while they posted $1.07B in revenue versus consensus of $2.98 and $1.07B, respectively. However, DPZ recorded a 2% gain in U.S. same-store sales, improving from -3.6% last, and global retail sales rose 4.7% from the prior year. "I'm encouraged with our performance and the sequential improvements we made during the third quarter,” CEO Russell Weiner said. "As we begin the fourth quarter, I believe Domino's is poised to emerge from these volatile times stronger than ever. We delivered around one out of every three pizzas in the United States before the pandemic, and we delivered around one out of every three pizzas today. Combined with our strong carryout business, where we have continued to accelerate our momentum, I have never been more confident in the future of Domino's Pizza." The company is buckling down by cutting the full-year capital expenditure forecast to $100M from a prior $120M and G&A from a range of $420M to $428M to $415M to $420M. Inflation remains in the range of 13% to 15%.
More after the call
More Competition For PLAY
Puttshack, the minigolf-centric eatertainment concept founded by the creators of Topgolf, on Thursday said it has received a $150 million investment from funds managed by BlackRock. The funding will help the six-unit brand build more locations quickly. “It’s been a bit of a whirlwind,” CFO Logan Powell said in an interview. “It’s really good fuel for the business. We want to make sure we’re set up for success over the long term.” The Chicago-based brand operates a technology-fueled concept that combines a restaurant with minigolf, including Trackaball technology that enables automated scoring, using Bluetooth and GPS. RestaurantBusiness
