The big headline from Domino's Pizza's (DPZ 1.45%) latest earnings report is that U.S. sales declined for the first time in over a decade.
But that's just a small part of the story.
In this video from "Beat & Raise" from Motley Fool Live, recorded on Oct. 14, Fool contributors Parkev Tatevosian and Demitri Kalogeropoulos take a closer look at the pizza delivery giant's global growth performance.
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Parkev Tatevosian: Here's the long-running track record for global comparable store sales growth for Domino's and like you mentioned earlier, the big story here was the end of that streak of 41 consecutive quarters of positive same-store sales growth in the U.S., so that streak is over, sadly.
Like we mentioned, it's because the comparison was so strong from the year before that they had a difficult time overcoming those strong comparisons. But fortunately, the international growth continues and it's now at 111 consecutive quarters of same-store sales growth. Actually in this most recent quarter, the international same-store comps were 8.8%, much higher than the overall average of the 5.4% and the average of the last 10 years of 5.4%. The international stores are still growing and growing faster than historical averages.
Kalogeropoulos: That's interesting and that 2020 number sticks out for me in the U.S. at double-digit 12%. It's a reminder that Domino's is in the right place at the right time when all the demand shifted toward home delivery and all the restaurants closed for a while.
Tatevosian: Absolutely, and then still kudos to Domino's for being able to fulfill on that demand rate. A lot of businesses they had that surge in demand, but they had difficulty fulfilling their demand but kudos to them for being able to step up and fulfill all of that demand.
