Domino’s revenue jumps more than expected

Domino's revenue jumps more than expected

REUTERS: Domino’s Pizza Inc on Tuesday reported a bigger-than-expected 17 percent jump in quarterly revenue as its U.S. division overcame intense competition that is taking a bite out of industry sales.Sales at domestic franchise units open at least one year were up 12.9 percent in the third quarter ended Sept. 11. Analysts had expected a rise of 9.4 percent, according to polling firm Consensus Metrix.Domino’s results come as Wall Street analysts are tempering expectations for rivals such as McDonald’s Corp and Dunkin’ Brands Group Inc , amid intensifying competition from upstart chains, meal-kit sellers and grocery stores – where prices versus restaurants are at a 30-year low.The world’s biggest pizza delivery chain is a leader in digital ordering. Its main rival, Yum Brands Inc’s Pizza Hut, which has been struggling, reported a 2 percent decline in U.S. same-store sales for the latest quarter.Domino’s net income jumped almost 25 percent to US$47.2 million, or 96 cents per share, topping the average analyst estimate of 90 cents per share, according to Thomson Reuters I/B/E/S.The Ann…

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