Domino's tops estimates, stock jumps

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STORY: Shares of Domino’s Pizza rose as much as eight percent in Monday morning trading after the company posted quarterly sales and profit that exceeded expectations.

Consumers in the U.S. tapped into offers through the pizza chain’s loyalty program, helping it buck a downbeat trend for eating out.

Domino's said that while carry-out and delivery orders for pizza and chicken wings grew across all income groups, it grew the most in lower-income consumers.

The company's CEO said customers are responding more to deals than to everyday low prices.

Domino’s revamped its loyalty program last year and entered into a third-party delivery partnership with Uber Eats, helping it rekindle delivery demand after a period of weakness.

The company is also pushing forward with promotions such as its carry-out "boost" weeks that provide 50% week-long discounts among other offers.

Domino’s stock has climbed about 30% so far in 2024, far outpacing the Dow, Nasdaq and S&P 500.