Domino's Plans To Cut Store Openings 'Come As A Surprise': Analyst
Domino's Plans To Cut Store Openings 'Come As A Surprise': Analyst
Domino's Pizza, Inc.'s (NYSE:DPZ) plans to cut back on opening new stores has caught analysts off guard, given its solid performance in the quick-service restaurant industry.
达美乐披萨公司（NYSE:DPZ）计划削减开办新店的举措让分析师们措手不及，鉴于该公司在快餐行业板块中表现强劲。
The Michigan-based pizza giant has lowered its guidance for new store openings worldwide to 825 to 925 locations and to 650 to 750 stores in 2024, according to its second-quarter earnings report released on Thursday.
这家总部位于密歇根州的披萨巨头在其第二季度财报发布的声明中表示，其全球新店开张计划将下调至825到925家，并在2024年将降至650到750家。
Domino's reported $142 million in net income for the three-month period, up from $109 million in net profit posted during the same period last year.
达美乐在该三个月时间段内报告净利润为1.42亿美元，高于去年同期的1.09亿美元的净利润。
"Unit guidance cuts come as a surprise, but new rewards program and [third-party delivery] continue to fuel growth," Goldman Sachs analyst Christine Cho said in a note.
高盛的分析师克莉丝汀（Christine Cho）在一份报告中表示：“单位指导下调令人意外，但新的奖励计划以及第三方交付仍在推动创业板的发展。”
She said Domino's Pizza Enterprises, one of Domino's master franchisees, plans to focus on closures in Japan and France.
她表示，达美乐披萨企业（Domino's Pizza Enterprises）是达美乐披萨的主要特许经营商之一，计划在日本和法国关闭部分店铺。
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Cho said Goldman Sachs still maintains a "Buy" rating for Domino's as the company expects to have solid growth over the next three years in great part due to its rewards program and third-party delivery arrangement with Uber Technologies Inc. (NYSE:UBER).
克莉丝汀表示，高盛仍然为达美乐持有“买入”评级，因为该公司预计在未来三年中实现稳健增长，其中一个重要因素就是其奖励计划以及与Uber Technologies公司（纽交所：UBER）的第三方交付协议。
"While we were surprised by the large international unit growth guidance cuts, we see this as a necessary re-set and expect some acceleration in international [same-store sales growth] with a healthier franchise store base," she wrote.
她写道：“虽然我们对大规模的国际单元增长指导下调感到惊讶，但我们认为这是必要的重新定位，并预计国际[同店销售增长]会加速，有一个更健康的特许经营店铺基础。”
TD Cowen analyst Andrew M. Charles said the cut in store openings overseas should not have much impact on Domino's future bottom line.
TD Cowen的分析师安德鲁·查尔斯（Andrew m. Charles）表示，海外商店开张的减少不应对达美乐未来的净利润产生太大影响。
"We argue on-track U.S. development for 175+ net openings annually is more important as international growth carries 60% of the sales volumes and 50% of the royalty rate versus U.S. stores," he said.
他说：“我们认为在美国发展175个以上的网络开店对于达美乐更加重要，因为国际增长占据60%的销售额和50%的特许权比率，而美国店铺占据少数。”
He also considered Domino's to be the "brightest story in quick service" and maintained a "Buy" rating on the stock.
他还认为达美乐是“快餐行业中最亮眼的例子”，并对这只股票维持“买入”评级。
"We like DPZ's positioning as the category leader in the $40+ billion QSR pizza category, with superior unit economics and an advantage with digital and data analytics," he wrote in a note.
他在一份报告中写道：“我们喜欢DPZ在40亿美元以上的快餐行业板块中成为行业领导者，具有优越的单元经济和数码数据分析优势。”
"While pizza delivery headwinds have challenged the category for the better part of the last 18 months, we are optimistic on Domino's robust strategic playbook to overshadow these headwinds to drive U.S. same-store sales upside in 2024-25 and organically deliver EPS beats."
他写道：“尽管披萨交付的逆风已经在过去的18个月里挑战着行业，但我们对达美乐的强有力战略计划感到乐观，我们预计它们可以在2024-25年推动美国的同店销售额增长并有机地带来每股收益的增长。”
Price Action: Domino's declined 1.19% on Friday to close at $404.17, while Uber gained 1.58% to $76.31.
价格行动：达美乐周五下跌1.19%，收报404.17美元，而Uber上涨1.58%，收报76.31美元。
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