Domino's Pizza sales drop less than expected
(Reuters) -Domino's Pizza Inc reported a smaller-than-expected drop in quarterly U.S. same-store sales on Thursday as it benefited from price increases and robust demand for its pizzas and chicken wings.
U.S. same-store sales at the world's largest pizza chain dropped 2.9% in the second quarter, compared with a 4.8% fall estimated by analysts, according to Refinitiv IBES.
Still, an acute labor crunch has led to shorter store hours and lengthier delivery times at the world's largest pizza chain in the past few quarters, prompting customers to seek their fill of pies from other joints.
Net income declined to $102.5 million, or $2.82 per share, from $116.6 million, or $3.06 per share, a year earlier.
(Reporting by Deborah Sophia in Bengaluru; Editing by Aditya Soni)
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