11/9/2021

speaker
Conference Call Operator
Operator

Good day and thank you for standing by. Welcome to the Domino's Pizza third quarter 2021 earnings conference call. At this time, all participants are in listen only mode. After the presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star then one on your telephone keypad. Please be advised today's conference may be recorded. If you require any further assistance, please press star then zero to reach an operator. I'd now like to hand the conference over to your host today, Jenny Foraker, Director of Public and Investor Relations. Please go ahead.

speaker
Jenny Foraker
Director of Public and Investor Relations

Thank you so much. And thanks to all of you for joining us for our conversation today regarding the results for the third quarter of 2021. Today's call will feature commentary from Chief Executive Officer Rich Allison and from the Office of CFO Jessica Parrish. As this call is primarily for our investor audience, I ask that members of the media and others to be in a listen-only mode. I want to remind everyone that the forward-looking statements in this morning's earnings release and 10Q also apply to our comments on the call today. Both of these documents are available on our website. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our filing with the SEC. In addition, please refer to the 8K earnings release to find disclosures and reconciliations of non-GAAP financial measures that may be referenced on today's call. Our request to our coverage analyst, we would like for you to accommodate it. We would like to accommodate as many of you as time permits, so we encourage you to ask only one one-part question on the call if you could, please. Today's conference call is being webcast and is also being recorded for replay via our website. With that, I'd like to turn the call over to our CEO, Rich Allison.

speaker
Rich Allison
Chief Executive Officer

Thank you, Jenny, and thanks to all of you for joining us this morning. Overall, I'm happy with our results this quarter, which once again demonstrated the powerful growth potential of the Domino's brand around the world. The third quarter presented significant challenges related to COVID and specifically the rise in the Delta variant. Across the U.S. and around the world, our system had to pivot yet again in response to the resulting changes in public health guidance and requirements. As this pandemic extends deep into its second year, I'm proud to say that our franchisees have continued to step up to meet the ongoing challenge in service of their customers, their communities, and their team members. Throughout the Domino's system, we'll remain committed to serving our customers with outstanding food through safe and reliable delivery and carry-out experiences. Now, you've heard me say it many times. Global retail sales growth is the engine that drives our business model. During the third quarter, we delivered 8.5% global retail sales growth, excluding foreign currency impact, driven by a combination of store growth and same-store sales. That 8.5% result was lapping a 14.8% from the third quarter of 2020. The third quarter extended our unmatched streak of international same-store sales growth to 111 consecutive quarters. While our 41-quarter streak of positive same-store sales in the U.S. ended during the quarter, I'm pleased that we still grew our U.S. retail sales during the quarter while rolling over 21.3% retail sales growth in Q3 2020. During the quarter, we also accelerated our pace of global store growth. On a trailing four-quarter basis, we have opened 1,124 net new stores. That's an increase of 500 relative to where we were in Q4 2020. Over the last four quarters, we've averaged just a touch above three net new stores every day. So overall, the Domino's brand continues to deliver. I'll turn the call over now to Jessica Parrish, our controller and treasurer. She'll take you through the details of the quarter. And then I'll come back to share some additional thoughts about the business. Jessica, over to you.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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