Proactive Investors - Domino's Pizza Inc (NYSE:DPZ) shares rose after the pizza maker’s first quarter earnings topped estimates as cost-conscious consumers were attracted to its low prices and promotional offerings.
Shares of Domino’s traded up 5.1% at about $524 in the early afternoon on Monday.
For Q1, the restaurant chain reported a 5.9% year-over-year increase in revenue to $1.08 billion, ahead of estimates of $1.01 billion.
Earning per share surged 22.2% from $2.93 in the year-ago quarter to $3.58, above estimates of $3.36.
US same-store sales growth was 5.6%, ahead of estimates of 4%, while international same-store sales growth was 0.9%.
On its earnings call, management highlighted that strong carry-out business and promotions drove growth across all income cohorts, with the highest increase observed among lower-income consumers.
"Customer responses to deals are stronger than to everyday low prices," CEO Russell Weiner told investors.