Trending: Domino's Pizza Rallies on Uber Eats Deal as Delivery Business is Challenged

1335 ET -- Domino's Pizza Inc. is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Domino's Pizza shares rallied toward an 11-month high Monday as it was upbeat about its collaboration with Uber Eats, saying entering the aggregator marketplace could add $1 billion in new sales. The upbeat comments, and the indication the company could announce similar deals, followed second-quarter results in which Domino's beat profit expectations but missed on revenue, as delivery same-store sales declined for an eighth straight quarter. "The U.S. delivery business continues to be challenged," said Chief Executive Sandeep Reddy. "We expect [third-quarter] same-store sales trends in our delivery business to be challenged ..." He expects a "slight improvement" in trend in the fourth quarter as the company's updated loyalty program rolls out and because of expected transaction growth from the Uber Eats partnership. Dow Jones & Co. owns Factiva. ([e-mail])

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July 24, 2023 13:51 ET (17:51 GMT)

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