Shares of Domino’s are getting crushed on Thursday after the company reported terrible earnings for its first quarter.
The pizza chain reported earnings per share of $0.89, whiffing on analyst expectations of $0.98 per share. Revenue also came in light at $539.2 million versus expectations $543.9 million.
Sales at company owned stores missed estimates, growing just 4.0% against expectations of 5.5%. Franchised store sales were up 6.6% against estimates of 6.0%. The company has around 900 franchised stores and 400 company-owned locations.
In response to the news, shares of the company are down around 9% at $121.51 as of 9:05 a.m. in pre-market trading.