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April 2022
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March 2022
October 2021
October 2021
July 2021
Exhibit 99.1
|
For Immediate Release |
Contact: Jenny Fouracre-Petko Investor Relations (734) 930-3620 |
Domino’s Pizza® Announces Fourth Quarter and Fiscal 2021 Financial Results
Global retail sales growth (excluding foreign currency impact and 53rd week impact) of 9.0% for the fourth quarter;
11.7% for fiscal 2021
U.S. same store sales growth of 1.0% for the fourth quarter; 3.5% for fiscal 2021
International same store sales growth of 1.8% for the fourth quarter; 8.0% for fiscal 2021
Global net store growth of 468 for the fourth quarter; 1,204 for fiscal 2021
Diluted EPS up 10.4% to $4.25 for the fourth quarter; up 9.3% to $13.54 for fiscal 2021
ANN ARBOR, Michigan, March 1, 2022: Domino’s Pizza, Inc. (NYSE: DPZ), the largest pizza company in the world, announced results for the fourth quarter and fiscal 2021. Global retail sales were benefited in the fourth quarter and fiscal 2020 by the inclusion of an extra, or 53rd week. Global retail sales increased 9.0% in the fourth quarter of 2021, excluding the negative impact of foreign currency and the 53rd week impact. Global retail sales increased 11.7% in fiscal 2021, excluding the positive impact of foreign currency and the 53rd week impact. Global retail sales increased 1.0% in the fourth quarter of 2021, excluding the negative impact of foreign currency. Global retail sales increased 8.9% in fiscal 2021, excluding the positive impact of foreign currency. Without adjusting for the impacts of foreign currency and the 53rd week, global retail sales declined 0.2% in the fourth quarter and increased 10.4% in fiscal 2021.
U.S. same store sales increased 1.0% during the quarter and 3.5% for the full year. International same store sales increased 1.8% during the quarter and 8.0% for the full year. The fourth quarter marked the 112th consecutive quarter of international same store sales growth. The Company had fourth quarter global net store growth of 468 stores, comprised of 89 net U.S. store openings and 379 net international store openings. In fiscal 2021, the Company had global net store growth of 1,204 stores, comprised of 205 net U.S. store openings and 999 net international store openings.
Diluted EPS for the fourth quarter of 2021 was $4.25, an increase of 10.4% over the prior year quarter. Diluted EPS for fiscal 2021 was $13.54, an increase of 9.3% over the prior year. Diluted EPS for both the fourth quarter and fiscal 2020 was positively impacted by the inclusion of the 53rd week. Diluted EPS for fiscal 2021 was negatively impacted by expenses associated with the Company’s April 2021 recapitalization transaction (the “2021 Recapitalization”). Diluted EPS for the fourth quarter of 2021 was $4.25, an increase of 22.8% over diluted EPS, as adjusted, of $3.46 in the fourth quarter of 2020. Diluted EPS, as adjusted, for fiscal 2021 was $13.60, an increase of 13.2% over diluted EPS, as adjusted, of $12.01 in fiscal 2020. Refer to the Financial Results Comparability and the Comments on Regulation G sections below for additional information.
Subsequent to the end of the fourth quarter of 2021, on February 24, 2022, the Company’s Board of Directors declared a $1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of March 15, 2022, to be paid on March 30, 2022.
“Throughout 2021, the strength of our franchisees and our excellent unit economics continued to deliver outstanding store and retail sales growth for the Domino’s brand,” said Ritch Allison, Domino’s Chief Executive Officer. “When we compare our 2021 results back to pre-pandemic 2019, the Domino’s brand grew by nearly $3.5 billion in global retail sales over the last two years. Looking forward, we remain focused on leading with innovation and leveraging our global scale to drive outstanding returns for our franchisees and shareholders.”
(dollars in millions, except share and per share data) |
|
Fourth |
|
|
Fourth |
|
|
Fiscal |
|
|
Fiscal |
|
||||
Net income |
|
$ |
155.7 |
|
|
$ |
151.9 |
|
|
$ |
510.5 |
|
|
$ |
491.3 |
|
Weighted average diluted shares |
|
|
36,668,295 |
|
|
|
39,463,552 |
|
|
|
37,691,351 |
|
|
|
39,640,791 |
|
Diluted EPS |
|
$ |
4.25 |
|
|
$ |
3.85 |
|
|
$ |
13.54 |
|
|
$ |
12.39 |
|
Items affecting comparability (1) |
|
|
— |
|
|
|
(0.39 |
) |
|
|
0.06 |
|
|
|
(0.38 |
) |
Diluted EPS, as adjusted (1) |
|
$ |
4.25 |
|
|
$ |
3.46 |
|
|
$ |
13.60 |
|
|
$ |
12.01 |
|
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Dominos Pizza Inc.
Dominos Pizza Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Impact of Inflation Given the inflation rates in fiscal 2021, there have been and may continue to be increases in food costs and labor costs which have and could further impact our profitability and that of our franchisees and which could impact the opening of new U.S. and international franchised stores and adversely affect our operating results.
Changes in assumptions for such factors as medical costs and legal actions, as well as changes in actual experience, could cause our estimates to change in the near term which could result in an increase or decrease in the related expense in future periods.
While it is not possible at this time to estimate the full continued impact that COVID-19 could have on our business, the continued spread of COVID-19 and the measures taken by the governments of countries affected could disrupt our continuing operations and supply chain and, as a result, could adversely impact our business, financial condition or results of operations.
As a percentage of store revenues, the store operating margin increased 0.1 percentage points in 2021.
Overall, we believe our global store growth, strong sales, emphasis on technology, operations and marketing initiatives have combined to strengthen our brand.
The increase in international franchise...Read more
Severe increases in inflation could...Read more
Supply Chain Supply chain Segment...Read more
Sources and Uses of Cash...Read more
On February 24, 2021, our...Read more
The proceeds from the 2021...Read more
Our ability to continue to...Read more
Changes in our current estimates...Read more
We are focused on continually...Read more
U.S. franchise royalties and fees...Read more
On July 20, 2021, our...Read more
On October 4, 2019, our...Read more
If the carrying amount of...Read more
Our strong international same store...Read more
Forward-looking statements relating to our...Read more
These increases were partially offset...Read more
Other Segment Income primarily includes...Read more
New Accounting Pronouncements The impact...Read more
These decreases in labor costs...Read more
Share Repurchase Programs Our share...Read more
U.S. Franchise Advertising Expenses U.S....Read more
While we have seen an...Read more
In 2021, we spent $94.2...Read more
U.S. Stores U.S. stores Segment...Read more
International Franchise International franchise Segment...Read more
We monitor both of these...Read more
Higher travel and event costs...Read more
Same store sales growth is...Read more
General and Administrative Expenses General...Read more
International Franchise Royalties and Fees...Read more
On April 30, 2021, we...Read more
U.S. Franchise Royalties and Fees...Read more
U.S. Stores Revenues U.S. Company-owned...Read more
Same store sales fluctuations and...Read more
These factors contributed to our...Read more
International same store sales growth...Read more
We are generally responsible for...Read more
As of January 2, 2022,...Read more
Global retail sales growth refers...Read more
Our market basket pricing to...Read more
Global retail sales growth in...Read more
The 53rd week in fiscal...Read more
Our accounting for deferred taxes...Read more
Investing Activities Cash used in...Read more
Cash used in investing activities...Read more
U.S. franchise same store sales...Read more
Same store sales increased 3.5%...Read more
Supply chain revenues may vary...Read more
On February 24, 2022, the...Read more
Our business model can yield...Read more
Supply Chain Supply chain revenues...Read more
It can also yield significant...Read more
Our revenues increased 5.8%....Read more
These decreases were partially offset...Read more
In connection with the 2021...Read more
Except as required under federal...Read more
Pursuant to the terms of...Read more
We believe that everyone in...Read more
We are generally responsible for...Read more
Labor costs decreased 1.9 percentage...Read more
SAFE HARBOR STATEMENT UNDER THE...Read more
Occupancy costs, which include rent,...Read more
Statistical Measures The tables below...Read more
We also repurchased $304.6 million...Read more
Readers are cautioned not to...Read more
We review comparable industry global...Read more
Consolidated revenues increased $240.0 million,...Read more
Our methodology for determining our...Read more
The proceeds from the 2019...Read more
Same Store Sales Growth Same...Read more
Our income from operations increased...Read more
Our net income increased 3.9%....Read more
For Company-owned stores, we perform...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Dominos Pizza Inc provided additional information to their SEC Filing as exhibits
Ticker: DPZ
CIK: 1286681
Form Type: 10-K Annual Report
Accession Number: 0000950170-22-002426
Submitted to the SEC: Tue Mar 01 2022 8:36:11 AM EST
Accepted by the SEC: Tue Mar 01 2022
Period: Sunday, January 2, 2022
Industry: Wholesale Groceries And Related Products