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© Reuters.
Investing.com – Fast food stocks were down on Tuesday at mid-day after Domino's Pizza announced disappointing sales at the same store in the second quarter.
Same-store sales at US-owned stores increased 2.1%, while US-store sales increased 3.1%. Both were below consensus estimates.
Shares of Domino's Pizza (NYSE 🙂 fell 6.7%, while those of Papa John's International (NASDAQ 🙂 fell 3%, Wingstop (NASDAQ 🙂 lost 1.7% and Yum! Brands (NYSE 🙂 fell 0.6%.
Competition from food distribution applications such as Uber Technologies (NYSE :), UberEats and GrubHub (NYSE :), has changed the delivery model of Domino, which has led to difficulties that are likely to continue in the future. sales, announced a leader.
Sales were mainly driven by individuals buying more per order, indicating that traffic was lower in the second quarter.
The company reported net income of $ 92.4 million, or $ 2.19 per share, compared with $ 77.4 million or $ 1.78 a share a year earlier.
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