Why Domino's Pizza Stock Dropped Today
Shares of Domino's Pizza (NYSE: DPZ) fell more than 11% on Thursday after the restaurant chain reported lackluster sales growth and cut its revenue outlook.
Domino's revenue rose 3.6% year over year to $1.4 billion in the fourth quarter, driven largely by new store openings. The pizza giant ended 2022 with 19,880 locations, representing a net increase of 1,032 stores compared to the prior year.
Yet the restaurant company's U.S. same-store sales only inched up 0.9%. That was well below Wall Street's estimates, which had called for comp growth of 3.4%.
Source Fool.com
