Domino’s Pizza Delivered 3Q Sales Miss, Outlook Cut

Domino’s Pizza recorded weaker sales growth in the summer quarter than analysts had been expecting and lowered its top line guidance for the year. Total third-quarter revenue was up 5% at $1.08 billion, but analysts had been looking for closer to $1.1 billion, according to FactSet. The growth was driven by higher order volumes and prices, but partially offset by a customer shift toward less profitable products. Domino’s has been leaning on pizza deals and promotions to drive traffic as consumer spending remains pressured. The company said it now expects global retail sales to rise 6% this fiscal year, down from a previous outlook for 7% or higher growth.

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