QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.) | |
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(Address of Principal Executive Offices) |
(Zip Code) |
Title of Each Class |
Trading Symbol |
Name of Each Exchange on Which Registered | ||
Domino’s Pizza, Inc. |
☒ | Accelerated filer | ☐ | ||||
Non-accelerated filer | ☐ | Smaller reporting company | ||||
Emerging growth company |
Page No. |
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PART I. |
FINANCIAL INFORMATION |
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3 |
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3 |
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4 |
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5 |
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6 |
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7 |
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14 |
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23 |
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23 |
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PART II. |
OTHER INFORMATION |
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24 |
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24 |
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24 |
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24 |
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24 |
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24 |
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25 |
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26 |
(In thousands) | March 28, 2021 |
January 3, 2021 (1) |
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Assets |
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Current assets: |
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Cash and cash equivalents |
$ | $ | ||||||
Restricted cash and cash equivalents |
||||||||
Accounts receivable, net |
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Inventories |
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Prepaid expenses and other |
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Advertising fund assets, restricted |
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Total current assets |
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Property, plant and equipment: |
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Land and buildings |
||||||||
Leasehold and other improvements |
||||||||
Equipment |
||||||||
Construction in progress |
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Accumulated depreciation and amortization |
( |
) | ( |
) | ||||
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Property, plant and equipment, net |
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Other assets: |
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Operating lease right-of-use |
||||||||
Goodwill |
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Capitalized software, net |
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Investments (Note 6) |
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Other assets |
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Deferred income taxes |
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Total other assets |
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Total assets |
$ | $ | ||||||
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Liabilities and stockholders’ deficit |
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Current liabilities: |
||||||||
Current portion of long-term debt |
$ | $ | ||||||
Accounts payable |
||||||||
Operating lease liabilities |
||||||||
Insurance reserves |
||||||||
Dividends payable |
||||||||
Advertising fund liabilities |
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Other accrued liabilities |
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Total current liabilities |
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Long-term liabilities: |
||||||||
Long-term debt, less current portion |
||||||||
Operating lease liabilities |
||||||||
Insurance reserves |
||||||||
Other accrued liabilities |
||||||||
Deferred income taxes |
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Total long-term liabilities |
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|||||
Stockholders’ deficit: |
||||||||
Common stock |
||||||||
Additional paid-in capital |
||||||||
Retained deficit |
( |
) | ( |
) | ||||
Accumulated other comprehensive loss |
( |
) | ( |
) | ||||
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|
|
|||||
Total stockholders’ deficit |
( |
) | ( |
) | ||||
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|
|
|||||
Total liabilities and stockholders’ deficit |
$ | $ | ||||||
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|
|
(1) | The balance sheet at January 3, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. |
Fiscal Quarter Ended |
||||||||
(In thousands, except per share data) | March 28, 2021 |
March 22, 2020 |
||||||
Revenues: |
||||||||
U.S. Company-owned stores |
$ | $ | ||||||
U.S. franchise royalties and fees |
||||||||
Supply chain |
||||||||
International franchise royalties and fees |
||||||||
U.S. franchise advertising |
||||||||
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|
|||||
Total revenues |
||||||||
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|
|
|
|||||
Cost of sales: |
||||||||
U.S. Company-owned stores |
||||||||
Supply chain |
||||||||
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|
|
|
|||||
Total cost of sales |
||||||||
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|
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|
|||||
Operating margin |
||||||||
|
|
|
|
|||||
General and administrative |
||||||||
U.S. franchise advertising |
||||||||
|
|
|
|
|||||
Income from operations |
||||||||
Other income |
— | |||||||
Interest income |
||||||||
Interest expense |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Income before provision (benefit) for income taxes |
||||||||
Provision (benefit) for income taxes |
( |
) | ||||||
|
|
|
|
|||||
Net income |
$ | $ | ||||||
|
|
|
|
|||||
Earnings per share: |
||||||||
Common stock - basic |
$ | $ | ||||||
Common stock - diluted |
Fiscal Quarter Ended |
||||||||
(In thousands) | March 28, 2021 |
March 22, 2020 |
||||||
Net income |
$ | $ | ||||||
Currency translation adjustment |
( |
) | ||||||
|
|
|
|
|||||
Comprehensive income |
$ | $ | ||||||
|
|
|
|
Fiscal Quarter Ended |
||||||||
(In thousands) | March 28, 2021 |
March 22, 2020 |
||||||
Cash flows from operating activities: |
||||||||
Net income |
$ | $ | ||||||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||
Depreciation and amortization |
||||||||
Loss on sale/disposal of assets |
||||||||
Amortization of debt issuance costs |
||||||||
Provision for deferred income taxes |
||||||||
Non-cash equity-based compensation expense |
||||||||
Excess tax benefits from equity-based compensation |
( |
) | ( |
) | ||||
Provision for losses on accounts and notes receivable |
||||||||
Unrealized gain on investments |
( |
) | — | |||||
Changes in operating assets and liabilities |
( |
) | ( |
) | ||||
Changes in advertising fund assets and liabilities, restricted |
||||||||
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|
|
|
|||||
Net cash provided by operating activities |
||||||||
|
|
|
|
|||||
Cash flows from investing activities: |
||||||||
Capital expenditures |
( |
) | ( |
) | ||||
Purchase of investments (Note 6) |
( |
) | — | |||||
Other |
( |
) | ||||||
|
|
|
|
|||||
Net cash used in investing activities |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Cash flows from financing activities: |
||||||||
Repayments of long-term debt and finance lease obligations |
( |
) | ( |
) | ||||
Proceeds from exercise of stock options |
||||||||
Purchases of common stock |
( |
) | ( |
) | ||||
Tax payments for restricted stock upon vesting |
( |
) | ( |
) | ||||
Payments of common stock dividends and equivalents |
( |
) | ( |
) | ||||
Other |
— | |||||||
|
|
|
|
|||||
Net cash used in financing activities |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Effect of exchange rate changes on cash |
( |
) | ||||||
|
|
|
|
|||||
Change in cash and cash equivalents, restricted cash and cash equivalents |
( |
) | ||||||
|
|
|
|
|||||
Cash and cash equivalents, beginning of period |
||||||||
Restricted cash and cash equivalents, beginning of period |
||||||||
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period |
||||||||
|
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|
|||||
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period |
||||||||
|
|
|
|
|||||
Cash and cash equivalents, end of period |
||||||||
Restricted cash and cash equivalents, end of period |
||||||||
Cash and cash equivalents included in advertising fund assets, restricted, end of period |
||||||||
|
|
|
|
|||||
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period |
$ | $ | ||||||
|
|
|
|
Fiscal Quarters Ended March 28, 2021 and March 22, 2020 |
||||||||||||||||||||||||
U.S. Stores |
Supply Chain |
International Franchise |
Intersegment Revenues |
Other |
Total |
|||||||||||||||||||
Revenues |
||||||||||||||||||||||||
2021 |
$ | $ | $ | $ | ( |
) | $ | — | $ | |||||||||||||||
2020 |
( |
) | — | |||||||||||||||||||||
Segment Income |
||||||||||||||||||||||||
2021 |
$ | $ | $ | N/A | $ | ( |
) | $ | ||||||||||||||||
2020 |
N/A | ( |
) |
Fiscal Quarter Ended |
||||||||
March 28, 2021 |
March 22, 2020 |
|||||||
Total Segment Income |
$ | $ | ||||||
Depreciation and amortization |
( |
) | ( |
) | ||||
Loss on sale/disposal of assets |
( |
) | ( |
) | ||||
Non-cash equity-based compensation expense |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Income from operations |
||||||||
Other income |
— | |||||||
Interest income |
||||||||
Interest expense |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Income before provision (benefit) for income taxes |
$ | $ | ||||||
|
|
|
|
Fiscal Quarter Ended |
||||||||
March 28, 2021 |
March 22, 2020 |
|||||||
Net income available to common stockholders - basic and diluted |
$ | $ | ||||||
|
|
|
|
|||||
Basic weighted average number of shares |
||||||||
Earnings per share – basic |
$ | $ | ||||||
Diluted weighted average number of shares |
||||||||
Earnings per share – diluted |
$ | $ |
Common Stock |
Additional Paid-in |
Retained |
Accumulated Other Comprehensive |
|||||||||||||||||
Shares |
Amount |
Capital |
Deficit |
Loss |
||||||||||||||||
Balance at January 3, 2021 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
Net income |
— | — | — | — | ||||||||||||||||
Dividends declared on common stock and equivalents ($ |
— | — | — | ( |
) | — | ||||||||||||||
Issuance and cancellation of stock awards, net |
( |
) | — | — | — | — | ||||||||||||||
Tax payments for restricted stock upon vesting |
( |
) | — | ( |
) | — | — | |||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ( |
) | — | |||||||||||
Exercise of stock options |
— | — | — | |||||||||||||||||
Non-cash equity-based compensation expense |
— | — | — | — | ||||||||||||||||
Currency translation adjustment |
— | — | — | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at March 28, 2021 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
Common Stock |
Additional Paid-in |
Retained |
Accumulated Other Comprehensive |
|||||||||||||||||
Shares |
Amount |
Capital |
Deficit |
Loss |
||||||||||||||||
Balance at December 29, 2019 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
Net income |
— | — | — | — | ||||||||||||||||
Dividends declared on common stock and equivalents ($ |
— | — | — | ( |
) | — | ||||||||||||||
Issuance and cancellation of stock awards, net |
— | — | — | — | ||||||||||||||||
Tax payments for restricted stock upon vesting |
( |
) | — | ( |
) | — | — | |||||||||||||
Purchases of common stock |
( |
) | ( |
) | ( |
) | ( |
) | — | |||||||||||
Exercise of stock options |
— | — | ||||||||||||||||||
Non-cash equity-based compensation expense |
— | — | — | — | ||||||||||||||||
Adoption of credit losses standard |
— | — | — | — | ||||||||||||||||
Currency translation adjustment |
— | — | — | — | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance at March 22, 2020 |
$ | $ | $ | ( |
) | $ | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
At March 28, 2021 |
||||||||||||||||
Fair Value Estimated Using |
||||||||||||||||
Carrying Amount |
Level 1 Inputs |
Level 2 Inputs |
Level 3 Inputs |
|||||||||||||
Cash equivalents |
$ | $ | $ | — | $ | — | ||||||||||
Restricted cash equivalents |
— | — | ||||||||||||||
Investments in marketable securities |
— | — | ||||||||||||||
Advertising fund cash equivalents, restricted |
— | — | ||||||||||||||
Investments |
— | — |
At January 3, 2021 |
||||||||||||||||
Fair Value Estimated Using |
||||||||||||||||
Carrying Amount |
Level 1 Inputs |
Level 2 Inputs |
Level 3 Inputs |
|||||||||||||
Cash equivalents |
$ | $ | $ | — | $ | — | ||||||||||
Restricted cash equivalents |
— | — | ||||||||||||||
Investments in marketable securities |
— | — | ||||||||||||||
Advertising fund cash equivalents, restricted |
— | — | ||||||||||||||
Investments |
— | — |
First Quarter of 2021 |
||||||||||||||||
Carrying Amount |
Carrying Amount |
|||||||||||||||
January 3, 2021 |
Purchases |
Unrealized Gain |
March 28, 2021 |
|||||||||||||
Investments |
$ | $ | $ | $ |
March 28, 2021 |
January 3, 2021 |
|||||||||||||||
Principal Amount |
Fair Value |
Principal Amount |
Fair Value |
|||||||||||||
2015 Ten-Year Fixed Rate Notes |
$ | $ | $ | $ | ||||||||||||
2017 Five-Year Fixed Rate Notes |
||||||||||||||||
2017 Ten-Year Fixed Rate Notes |
||||||||||||||||
2017 Five-Year Floating Rate Notes |
||||||||||||||||
2018 7.5-Year Fixed Rate Notes |
||||||||||||||||
2018 9.25-Year Fixed Rate Notes |
||||||||||||||||
2019 Ten-Year Fixed Rate Notes |
Fiscal Quarter Ended |
||||||||
March 28, 2021 |
March 22, 2020 |
|||||||
Deferred franchise fees and deferred development fees at beginning of period |
$ | $ | ||||||
Revenue recognized during the period |
( |
) | ( |
) | ||||
New deferrals due to cash received and other |
||||||||
|
|
|
|
|||||
Deferred franchise fees and deferred development fees at end of period |
$ | $ | ||||||
|
|
|
|
Fiscal Quarter Ended |
||||||||
March 28, 2021 |
March 22, 2020 |
|||||||
Operating lease cost |
$ | $ | ||||||
Finance lease cost: |
||||||||
Amortization of right-of-use |
||||||||
Interest on lease liabilities |
||||||||
|
|
|
|
|||||
Total finance lease cost |
$ | $ | ||||||
|
|
|
|
March 28, 2021 |
January 3, 2021 |
|||||||
Land and buildings |
$ | $ | ||||||
Accumulated depreciation and amortization |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Finance lease assets, net |
$ | $ | ||||||
|
|
|
|
|||||
Current portion of long-term debt |
$ | $ | ||||||
Long-term debt, less current portion |
||||||||
|
|
|
|
|||||
Total principal payable on finance leases |
$ | $ | ||||||
|
|
|
|
March 28, 2021 |
January 3, 2021 |
|||||||||||||||
Operating Leases |
Finance Leases |
Operating Leases |
Finance Leases |
|||||||||||||
Weighted average remaining lease term |
||||||||||||||||
Weighted average discount rate |
% | % | % | % |
Fiscal Quarter Ended |
||||||||
March 28, 2021 |
March 22, 2020 |
|||||||
Cash paid for amounts included in the measurement of lease liabilities: |
||||||||
Operating cash flows from operating leases |
$ | $ | ||||||
Operating cash flows from finance leases |
||||||||
Financing cash flows from finance leases |
||||||||
Right-of-use |
||||||||
Operating leases |
||||||||
Finance leases |
Operating Leases |
Finance Leases |
|||||||
2021 |
$ | $ | ||||||
2022 |
||||||||
2023 |
||||||||
2024 |
||||||||
2025 |
||||||||
Thereafter |
||||||||
|
|
|
|
|||||
Total future minimum rental commitments |
||||||||
Less – amounts representing interest |
( |
) | ( |
) | ||||
|
|
|
|
|||||
Total lease liabilities |
$ | $ | ||||||
|
|
|
|
• |
Global retail sales, excluding foreign currency impact (which includes total retail sales at Company-owned and franchised stores worldwide) increased 14.0% as compared to 2020. U.S. retail sales increased 15.3% and international retail sales, excluding foreign currency impact, increased 12.8% as compared to 2020. |
• |
Same store sales increased 13.4% in our U.S. stores and increased 11.8% in our international stores. |
• |
Revenues increased 12.7% |
• |
Income from operations increased 19.7%. |
• |
Net income decreased 3.2%. |
• |
Diluted earnings per share decreased 2.3%. |
First Quarter of 2021 |
First Quarter of 2020 |
|||||||
U.S. stores |
+15.3 | % | +4.9 | % | ||||
International stores (excluding foreign currency impact) |
+12.8 | % | +6.8 | % | ||||
|
|
|
|
|||||
Total (excluding foreign currency impact) |
+14.0 | % | +5.9 | % |
First Quarter of 2021 |
First Quarter of 2020 |
|||||||
U.S. Company-owned stores |
+6.3 | % | +3.9 | % | ||||
U.S. franchise stores |
+13.9 | % | +1.5 | % | ||||
|
|
|
|
|||||
U.S. stores |
+13.4 | % | +1.6 | % | ||||
International stores (excluding foreign currency impact) |
+11.8 | % | +1.5 | % |
U.S. Company- owned Stores |
U.S. Franchise Stores |
Total U.S. Stores |
International Stores |
Total |
||||||||||||||||
Store count at January 3, 2021 |
363 | 5,992 | 6,355 | 11,289 | 17,644 | |||||||||||||||
Openings |
2 | 35 | 37 | 160 | 197 | |||||||||||||||
Closings |
(1 | ) | — | (1 | ) | (21 | ) | (22 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Store count at March 28, 2021 |
364 | 6,027 | 6,391 | 11,428 | 17,819 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
First quarter 2021 net store growth |
1 | 35 | 36 | 139 | 175 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Trailing four quarters net store growth |
19 | 216 | 235 | 495 | 730 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
First Quarter of 2021 |
First Quarter of 2020 |
|||||||||||||||
U.S. Company-owned stores |
$ | 112.7 | $ | 102.3 | ||||||||||||
U.S. franchise royalties and fees |
124.5 | 104.7 | ||||||||||||||
Supply chain |
568.3 | 512.7 | ||||||||||||||
International franchise royalties and fees |
66.8 | 57.5 | ||||||||||||||
U.S. franchise advertising |
111.4 | 95.8 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total revenues |
983.7 | 100.0 | % | 873.1 | 100.0 | % | ||||||||||
U.S. Company-owned stores |
85.7 | 79.4 | ||||||||||||||
Supply chain |
508.8 | 453.6 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total cost of sales |
594.5 | 60.4 | % | 532.9 | 61.0 | % | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Operating margin |
389.2 | 39.6 | % | 340.2 | 39.0 | % | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
General and administrative |
91.3 | 9.3 | % | 88.5 | 10.2 | % | ||||||||||
U.S. franchise advertising |
111.4 | 11.3 | % | 95.8 | 11.0 | % | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Income from operations |
186.5 | 19.0 | % | 155.8 | 17.8 | % | ||||||||||
Other income |
2.5 | 0.2 | % | — | 0.0 | % | ||||||||||
Interest expense, net |
(39.4 | ) | (4.0 | )% | (38.5 | ) | (4.4 | )% | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Income before provision (benefit) for income taxes |
149.6 | 15.2 | % | 117.3 | 13.4 | % | ||||||||||
Provision (benefit) for income taxes |
31.9 | 3.2 | % | (4.3 | ) | (0.5 | )% | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Net income |
$ | 117.8 | 12.0 | % | $ | 121.6 | 13.9 | % | ||||||||
|
|
|
|
|
|
|
|
First Quarter of 2021 |
First Quarter of 2020 |
|||||||||||||||
U.S. Company-owned stores |
$ | 112.7 | 11.4 | % | $ | 102.3 | 11.7 | % | ||||||||
U.S. franchise royalties and fees |
124.5 | 12.7 | % | 104.7 | 12.0 | % | ||||||||||
Supply chain |
568.3 | 57.8 | % | 512.7 | 58.7 | % | ||||||||||
International franchise royalties and fees |
66.8 | 6.8 | % | 57.5 | 6.6 | % | ||||||||||
U.S. franchise advertising |
111.4 | 11.3 | % | 95.8 | 11.0 | % | ||||||||||
|
|
|
|
|
|
|
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Total revenues |
$ | 983.7 | 100.0 | % | $ | 873.1 | 100.0 | % | ||||||||
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First Quarter of 2021 |
First Quarter of 2020 |
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U.S. Company-owned stores |
$ | 112.7 | 32.3 | % | $ | 102.3 | 33.8 | % | ||||||||
U.S. franchise royalties and fees |
124.5 | 35.7 | % | 104.7 | 34.6 | % | ||||||||||
U.S. franchise advertising |
111.4 | 32.0 | % | 95.8 | 31.6 | % | ||||||||||
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U.S. stores |
$ | 348.6 | 100.0 | % | $ | 302.9 | 100.0 | % | ||||||||
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First Quarter of 2021 |
First Quarter of 2020 |
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Consolidated revenues |
$ | 983.7 | 100.0 | % | $ | 873.1 | 100.0 | % | ||||||||
Consolidated cost of sales |
594.5 | 60.4 | % | 532.9 | 61.0 | % | ||||||||||
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Consolidated operating margin |
$ | 389.2 | 39.6 | % | $ | 340.2 | 39.0 | % | ||||||||
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First Quarter of 2021 |
First Quarter of 2020 |
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Revenues |
$ | 112.7 | 100.0 | % | $ | 102.3 | 100.0 | % | ||||||||
Cost of sales |
85.7 | 76.1 | % | 79.4 | 77.6 | % | ||||||||||
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Store operating margin |
$ | 27.0 | 23.9 | % | $ | 22.9 | 22.4 | % | ||||||||
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• | Food costs decreased 0.7 percentage points to 27.1% in the first quarter of 2021, due primarily to the leveraging of higher same store sales. |
• | Labor costs decreased 0.6 percentage points to 28.4% in the first quarter of 2021 due primarily to the leveraging of higher same store sales. |
First Quarter of 2021 |
First Quarter of 2020 |
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Revenues |
$ | 568.3 | 100.0 | % | $ | 512.7 | 100.0 | % | ||||||||
Cost of sales |
508.8 | 89.5 | % | 453.6 | 88.5 | % | ||||||||||
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Supply chain operating margin |
$ | 59.5 | 10.5 | % | $ | 59.1 | 11.5 | % | ||||||||
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First Quarter of 2021 |
First Quarter of 2020 |
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U.S. Stores |
$ | 107.4 | $ | 88.3 | ||||
Supply Chain |
52.6 | 51.4 | ||||||
International Franchise |
54.5 | 43.5 | ||||||
Other |
(6.1 | ) | (8.1 | ) |
(In millions) | First Quarter of 2021 |
First Quarter of 2020 |
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Cash Flows Provided By (Used In) |
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Net cash provided by operating activities |
$ | 152.9 | $ | 95.4 | ||||
Net cash used in investing activities |
(56.4 | ) | (17.9 | ) | ||||
Net cash used in financing activities |
(23.1 | ) | (82.1 | ) | ||||
Exchange rate changes |
0.2 | (1.0 | ) | |||||
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Change in cash and cash equivalents, restricted cash and cash equivalents |
$ | 73.5 | $ | (5.6 | ) | |||
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Period |
Total Number of Shares Purchased (1) |
Average Price Paid Per Share |
Total Number of Shares Purchased as Part of Publicly Announced Program (2) |
Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program (in thousands) |
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Period #1 (January 4, 2021 to January 31, 2021) |
67,407 | $ | 379.58 | 65,870 | $ | 76,553 | ||||||||||
Period #2 (February 1, 2021 to February 28, 2021) |
1,316 | 377.02 | — | 1,000,000 | ||||||||||||
Period #3 (March 1, 2021 to March 28, 2021) |
4,046 | 341.77 | — | 1,000,000 | ||||||||||||
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Total |
72,769 | $ | 377.44 | 65,870 | $ | 1,000,000 | ||||||||||
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(1) | 6,899 shares in the first quarter of 2021 were purchased as part of the Company’s employee stock payroll deduction plan. During the first quarter, the shares were purchased at an average price of $357.43. |
(2) | On February 24, 2021, the Company’s Board of Directors authorized a new share repurchase program to repurchase up to $1.0 billion of the Company’s common stock. This repurchase program replaced the remaining availability of approximately $76.6 million under the Company’s previously approved $1.0 billion share repurchase program. |
DOMINO’S PIZZA, INC. (Registrant) | ||||||
Date: April 29, 2021 | /s/ Stuart A. Levy | |||||
Stuart A. Levy | ||||||
Executive Vice President, Chief Financial Officer (Principal Financial Officer) |