Domino's Pizza reports another rise in profit, sales
(See previous story: Q-and-a: Domino's Pizza CEO Patrick Doyle: 'I've only been CEO during a tough economy')
Ann Arbor Township-based Domino's Pizza reported another rise in profit and sales today as the company continued to gain ground in a saturated market in which incremental gains are viewed as a win.
AnnArbor.com file photo
The company reported a 33.1 percent rise in profit with net income of $22.1 million, up from $16.6 million in the third quarter of 2010.
The performance was particularly encouraging because Domino's enjoyed a very strong third quarter in 2010 as interest in its new pizza recipe was still strong.
Domino's executives believe they have achieved sustainable increases in sales and profits based on the new recipe, new products and efficient business processes.
"In the face of these uncertain economic times, Domino's has continued to prove its resiliency," Domino's CEO J. Patrick Doyle said in a statement. "This quarter is yet another example of how increasing loyalty from our customers is driving terrific results around the world."
Global retail sales, a measurement of all revenue connected to the Domino's brand, rose 13.3 percent.
As of Sept. 11, Domino's had 4,891 U.S. stores, including 4,496 franchised stores and 395 corporate-owned stores. The company has 4,650 stores in foreign markets, up 108 from a quarter earlier.