Jeffrey D. Lawrence
you, quarter, first we for In and our continued good again positive our delivered Thank morning, as everyone. momentum results great once brand the Tim, shareholders. global
industry quarters lead consecutive international the We sales U.S. comps. quarters of XX XX of with broader continued and comparable positive positive to restaurant consecutive
store continued at also our count increase to a healthy We pace.
quarter. we grew by the favorable number same-store With results Our let's excluding look driven sales, a stores currency, increase sales sales our in $X quarter. a prior-year Same-store per growth comp, in impact When growth increase retail This grew count share Breaking by order growth. XX.X%. quarter. the which increases franchise the X.X%. XX.X%. Both a company-owned positively by lapping total franchise the driven consumers division share, an domestic continued sales was to our take for and increased offer as which sales Same-store the opened Ticket company-owned global were respond of were division XX.X% average down of up business for increase grew retail lapping domestic during financial worldwide, QX. primarily or X%, U.S. also earnings our the up stores foreign stores global retail brand international during of of an XX% Global traffic grew the X.X%. them. and was the while of to experience sales at are prior-year for a comp the increase growth X.X%, closer overall over at diluted is X.X%, was our that, retail prior-year sales the
international the regions with front, quarter the Asia-Pacific geographic were four and our positive On all way. our in leading of regions Americas again the
quarter negatively As approximately as to QX the half include were were I mentioned on call, back shifted compared our a positively impacted quarter. calendar globally fiscal comps impacted the Day. prior when QX year, New in comps that as this favorably not our XXXX That point Year's by did
opened first are unit domestic the XX in consisting we report count openings stores the of front, that quarter, to On X XX closures. store pleased we net and
over strength added new in of and stores enjoy the net stores months, four-wall net the a comprised last store total basis, XXX economics On division international and the openings and franchisees new Our XX net and XXX closures. demonstrating XXX XX opened stores clearly outstanding quarter our company first we XX globally. brand during broad new QX,
were quarter. revenues from prior-year up million or the $XXX.X Total revenues. to XX% Turning
the the adopted XXXX. As a of accounting quarter reminder, we new recognition standard in first revenue
our to on required P&L. expenses the now are we our result, to the related not-for-profit and advertising a gross fund report As franchise contributions
now increase an included $XX.X our had resulted remaining did million in used result Domino's $XX.X operating no to amounts this be in primarily quarter, net or revenues. corporate in available Although impact restricted revenues although can reported It following. used general is only from funds in brand to these to and consolidated the our that first The the important be in for income are not note support our it are on purposes. the P&L, million increase they are
volumes, that driven U.S. chains are store constant supply revenues. higher by First, higher growth, strong food supply resulting chain in
dollar growth store higher as revenues from revenues increased international and as our royalties versus from fees same-store Currency in certain positively domestic $X.X weakening increased foreign resulted changes the the currencies. as to sales, company exchange higher as prior-year by of higher franchise stores. international stores, well count sale positive and Second, quarter rates. store royalty count revenues at million currency impacted rates same-store in royalty owned due finally, and impact well exchange our the And growth against
to operating on margin. Moving
margin the accounting company This mentioned increase our margin, remained operating margin revenue domestic labor guidance, pressured revenues, previously. global XX.X% I new franchise business by the the the our a operating entirely benefited Growth chain recognition from quarter. to delivery in negatively for from increased supply consolidated both while on franchise XX% recognition As was revenues in of the overall advertising resulted for Company-owned margins costs. the P&L quarter store quarter. flat percentage from operating prior-year of and
recorded shift investments receive prior-year Let's including This our to technological franchisees, as revenues. by resulted million in now quarter. to increase $X.X initiatives, investments are from partially franchise primarily offset and fees the note that e-commerce G&A as which these them. increased that compared from the support that teams are cost G&A. we Please our planned
domestic also revenue line franchise with domestic will Related revenues new the line in new and line item. were changes, note in advertising advertising. our franchise we related included to been costs. expense operating change. in P&L, offsetting now costs the guidance, expense previously you expense recognition called our we to reclassified recorded showing item quarter, an franchise domestic equal item the to our In that to of down Due in G&A amount have first these advertising are Moving new certain advertising million $XX.X to expenses a this
full-year a XXXX year, to of for outlook million. item will the for we re-class range our now million of $XXX G&A in this of expense our that the be result As line rest estimate and $XXX the
accounting an note be providing we changes, expense. not will these on As a on franchise domestic outlook advertising final
increased quarter, prior-year in partially as a average weighted the lower primarily by expense result of increased income from offset down a was quarter. first borrowing to $X.X Moving compared XXXX in X.X% Net X.X% of net the This statement. our rate by debt recapitalization. interest as the million
reported resulting effective the legislation tax XXXX. federal at rate rate. equity-based on percentage tax also an for quarter. point Our benefit first in lower an X reform to reduction $X.X resulted in was tax tax our the in provision the resulted of was primarily in XX.X% impact due taxes. decrease This XX%, quarter our million for federal of enacted compensation income rate end effective The the of This statutory from
continue the We to equity-based compensation, impact our will tax expect that to XX% rate, be XX%. excluding of
volatility or prior-year continued tax compensation. you effective XX% to We add in the also was our When rate, up it all over up, $XX.X expect income equity-based net see related quarter. quarter million, our to first
Our first versus $X quarter diluted XX% which increase. a EPS year, $X.XX share last was was a
that equity-based the related increase effective benefit $X.XX impacted $X.XX Here positively to including our of a diluted down; share rate us positive a a tax primarily $X.XX, is on as tax tax lower share compensation. counts, by positive $X.XX Higher Lower impact balance, benefit royalty currency by breaks most impacted higher reform from $X.XX. how improved result by impact and impact including net interest $X.XX. from of And by on negatively exchange from us $X.XX, benefited net debt our a us operating rate benefited expense, $X.XX revenues. importantly, foreign us repurchases, resulting a results
the turning cash. Now to use of
shareholders share. first per purchase quarter shares to dividend. share Subsequent During price $XXX quarter, returned the for in approximately a first retired quarterly the an at of we of and $XX.X we $X.XX approximately to average repurchased form our XXX,XXX $XXX.X million million per the
approximately purchase in of continued $XXX all, shares $XX.X and our strong share. are pleased quarter. All our for per We at results also repurchased an and retired average we very approximately XXX,XXX this with price million, momentum
to I give transaction. it completed turning our update an recently over to recapitalization Before on Patrick, like would
receipt million As recapitalization we for $XXX announced, proceeds. increasing have a pattern the with in of which gross our has company, the April previously The our been match growing years. consistent process many XX of in to on recapitalizing closed business, transaction our leverage been
We are the our are a and community be investment of deal this business the new on rate brand. well that lending paying community. was by And in the our happy good reflection very debt the to confidence report interest received we'll
some about structure, a XXXX; XXXX anticipated pre-tax an an in repayment with million XXXX. tranche securitization this business notes rate, of to deal, issuing repayment made date million whole X.X%. up of approximately included tranches: tranche which basis, the interest October rate, a a of a on blended in advantage the X.XXX% with rate X.XXX% a and new Now at details taken rate coupon fixed at date July coupon anticipated these transaction, carry following On of of a again which million $XXX was has $XXX the notes, rate $XXX
well We future. the locked pleased debt in into have rates additional are very to low at interest
to QX debt-to-EBITDA have of the is Our $X.X million stated principal prior end X.X to equates X X using year. from deal, approximately times the leverage to and year, per our range. scheduled XX-month approximately each times now XXXX approximately near of X.X X% ratio previously- which times, trailing principal EBITDA top The notes up of payments the
and transaction Use With from over prior expect balance the retire consistent in million XXXX these business, momentum of include scheduled will existing the place leverage fall to the term, our which payments and medium ratios practice. take currently rate notes on five-year prepay to tomorrow. principal outstanding $XXX notes, funds we our our our this with fixed of
$X.X on We the approximately related of and paid pre-funded approximately principal a for XXXX also our deal the expenses of $X portion to notes. interest fees and million million
for in term. factors. is note $XXX change will basis. use decide to another be full-year among note and changes $XXX of we that I it very proceeds Patrick. $XXX over expected good near interest variable debt, estimate our One of expect approximately currently We and million XXXX, estimates current company. is pre-tax recapitalization, variable on the a to these It currently million to expense our with between to in the that, as-reported on refinancing last under borrowings may that All of rate million due on to all, important turn transaction And the expense in notes affect remaining would other interest the LIBOR funding for that the
