ANN ARBOR, Mich. (AP) – Domino’s Pizza reported Tuesday that its profit jumped 33 percent in its second quarter as more people ordered its pies, but the pizza chain was hit by a slowdown in sales overseas.
Shares of Domino’s Pizza Inc. tumbled more than 8 percent Tuesday.
Domino’s international sales rose 2.6 percent at established stores during the quarter that ended June 18, falling short of the 5.1 percent rise analysts had expected, according to FactSet. It was also far less that the 7.1 percent increase Domino’s reported in the same period a year ago.
Domino’s CEO J. Patrick Doyle said the overseas numbers “weren’t exactly the type of results we’ve all come to expect within this high-performing business segment.”
He said weakness in the U.K. was part of the reason for the disappointing results and said the company is working on remedies, including trying to get more people there to order pizza online.