Domino’s Pizza stock slides 4% premarket after earnings miss

Domino’s Pizza Inc. shares

DPZ, +0.03%

slid 4% in premarket trade Tuesday, after the company posted weaker-than-expected earnings for its fiscal third quarter. Ann Arbor, Michigan-based Domino’s said it had net income of $86.5 million, or $2.05 a share, in the quarter to Sept.8, up from $84.1 million, or $1.95 a share, in the year-earlier period. Revenue edged up to $820.8 million from $785.9 million. The FactSet consensus was for EPS of $2.07 and revenue of $823.0 million. U.S. same-store sales rose 2.4%, compared with a FactSet consensus for growth of 2.7%. The company unveiled a new set of performance estimates covering a two to three-year timeframe, which replaces prior guidance that took a three to five-year view. It said it expects global retail sales growth of 7% to 10% in two to three years, compared with a prior forecast of 8% to 12% growth over a three to five-year frame. It expects U.S. same-store sales growth of 2% to 5%, compared with 3% to 6% over the previous time frame. Shares have fallen 2.3% in 2019 through Monday, while the S&P 500

SPX, -0.45%

has gained 17.2%.

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