Why Shares of Domino's Pizza Stock Slipped This Week
Shares of Domino's Pizza (NYSE: DPZ) fell over 15% this week, according to data from S&P Global Market Intelligence. The largest pizza chain in the world posted strong comparable sales growth and earnings for the quarter, but projected weaker store openings and a sales slowdown in the latter half of 2024. Investors decided to sell the stock down 13.5% after its earnings came out Thursday morning.
As of market close on Thursday, July 18, Domino's Pizza stock is down 16.8% this week. Here's why.
Domino's kicked off earnings season with its second-quarter earnings report on Thursday. The company earned a profit of $4.03 per share, beating analyst expectations of $3.68. Sales also came in strong, with global retail sales up 7.2% and U.S. same-store sales growth of 4.8% year over year. A lot of restaurants are struggling with unit volumes right now, so a 4.8% growth rate is good to see from the company.
Source Fool.com
