Domino's Pizza Stock Jumped on Its Earnings Release: What Investors Should Know
Shares of Domino's Pizza (NYSE: DPZ) gained 10.4% on Thursday, following the restaurant chain's release of fiscal third-quarter results that investors found at least semi-appetizing in light of the current challenging macroeconomic environment.
Shares likely got a tailwind from market dynamics, as the market had a good day on Thursday. But the bulk of their gain is probably attributable to Domino's U.S. same-store sales returning to growth after posting year-over-year declines in the first two quarters of this fiscal year. Investors were also likely pleased that the third quarter's total revenue managed to slightly exceed Wall Street's expectation.
High inflation and concerns about a possible recession are causing some consumers to tighten their discretionary spending, so investors were no doubt relieved that Domino's results held up relatively decently.
Source Fool.com
