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The following are highlights of the second quarter of 2000 compared to the same period in 1999.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 9.7%, to $34.5 million.
- Domestic same store sales increased 2.3%, comprised of a 2.4% increase in franchise same store sales and a 1.9% increase in corporate same store sales, marking
- Domino's 28th consecutive quarter of positive domestic same store sales growth.
- International same store sales increased 4.5% on a constant dollar basis.
- System-wide sales increased 7.9% to a second quarter record $810.1 million.
- Domino's added 83 stores during the second quarter of 2000, including the opening of our 2,000th international store, bringing the total to 6,735 stores worldwide.
- The increases in EBITDA and net income in 2000 compared to 1999 are due primarily to strong same store sales growth and store openings, savings realized from our corporate restructuring in late 1999 and reduced covenant not-to-compete amortization expense.
"We are pleased to once again report strong EBITDA improvement and our 28th consecutive quarter of same store sales growth," says David Brandon, chairman and CEO. "We are also proud of our progress in growing our system-wide sales and opening new stores. These results are particularly impressive, given the disappointing performance of the pizza category in the second quarter. Another highlight of our second quarter was the opening of our 2,000th international store. It was appropriate that this "milestone" store opening occurred in Mexico, since it is the fastest growing market in the 40 year history of our company."