Domino's Pizza reported a big jump in quarterly revenue as its U.S. division overcame intense competition that is taking a bite out of industry sales. Jeanne Yurman reports.
Customers seem to love what one restaurant chain is serving up. Domino's Pizza reporting a big jump in quarterly revenue, with strong growth in profit, same store sales, and global store count. Peter Saleh of BTIG: (SOUNDBITE) PETER SALEH, MANAGING DIRECTOR - RESTAURANTS, BTIG, (ENGLISH) SAYING: "They're clearly doing something right. They're taking market share, and we think they are doing it with their digital platform. And their digital platform continues to expand. It represents more than 55 percent of their transactions now, their sales, and that continues to grow." All this at a time when its rivals are struggling. Chains like McDonald's and Dunkin' Donuts are taking a hit from upstart restaurants, meal-kit sellers, and grocery stores, where prices are at a thirty-year low. And Yum Brands' Pizza Hut has faced a two percent decline in U.S. same-store sales for the latest quarter. (SOUNDBITE) PETER SALEH, MANAGING DIRECTOR - RESTAURANTS, BTIG, (ENGLISH) SAYING: "If you look at that space, the companies that are grabbing market share are those that are doing digital really well. It's not just about digital mobile order and pay, but it's also about the knowledge that you gain about your customer, when they order, what they order, how they order how much they spend, who they are where they live." Domino's shares jumped on the earnings news.