Management attributes outperformance to the 'Hungry For More' strategy, specifically citing 'profit power'—the ability to offer aggressive consumer value while simultaneously increasing franchisee profitability through scale and purchasing power. Performance was driven by the successful launch of Parmesan Stuffed Crust, which exceeded expectations in customer mix and incremental acquisition, and the 'Best Deal Ever' promotion that leveraged media scale to drive volume. The company gained approximately ...

Financial Data and Key Metrics Changes - Income from operations increased by 11.8% in Q3 2025, excluding the impact of foreign currency, primarily due to higher U.S. franchise royalties and fees [10] - Global retail sales grew by 6.3% in the quarter, driven by positive U.S. and international comps and global net store growth [10] - U.S. retail sales increased by 7%, with same-store sales accelerating to 5.2% for the quarter [12][13] - International retail sales grew by 5.7%, driven by net store growth and same-store sales of 1.7% [13] Business Line Data and Key Metrics Changes - Carryout comps were up 8.7%, driven by initiatives like the Best Deal Ever promotion and growth from the Domino's Rewards program [12][56] - Delivery comps were positive at 2.5%, primarily due to the Best Deal Ever promotion and the launch of DoorDash [12][13] - The company added 29 net new stores in the U.S., bringing the total to 7,090 [13] Market Data and Key Metrics Changes - The QSR pizza category grew approximately 1% year-to-date, with Domino's pacing well ahead of this growth [12] - The company continues to see strength in Asia, particularly in India, with no material impacts from global macro or geopolitical uncertainty [13] Company Strategy and Development Direction - The company is focused on its "Hungry for More" strategy, which aims to drive more sales, more stores, and more profits [3][8] - The Best Deal Ever promotion has been a significant driver of strong U.S. results, highlighting operational excellence and franchisee profitability [4][5] - The company is fully rolled out on DoorDash, expecting sales to grow as awareness and marketing increase [6][12] Management's Comments on Operating Environment and Future Outlook - Management reiterated a 3% same-store sales outlook for the U.S. in 2025, despite a challenging macro environment [20][49] - The company expects to continue gaining market share against the QSR pizza industry, even amid short-term restaurant headwinds [22][49] - Management expressed confidence in the long-term prospects of the delivery business, particularly with aggregators [28][59] Other Important Information - The company completed a debt refinancing transaction, refinancing $1 billion at a blended rate of approximately 5.1% [14] - Approximately 166,000 shares were repurchased at an average price of $450 per share, totaling $75 million in Q3 [15] Q&A Session Summary Question: U.S. sales outlook and macro dynamics - Management reiterated the 3% outlook for same-store sales, acknowledging a slowing across the restaurant industry [20][21] Question: Delivery market and competitive landscape - Management noted that despite pressures, both delivery and carryout businesses were up, emphasizing their ability to sustain profitability [24][26] Question: Economics of the Best Deal Ever promotion - Franchisees requested the continuation of the Best Deal Ever promotion due to its positive impact on business [29][30] Question: Confidence in future growth and sales drivers - Management explained that their business model focuses on sustainable growth rather than limited-time offers, which supports long-term sales [32][33] Question: International unit growth and market performance - Management highlighted strong performance in China and India, indicating confidence in future international growth [75]