Domino’s goes global

Article Excerpt

DOMINO’S PIZZA $49.82 (New York symbol DPZ; TSINetwork Rating: Average) (734-930-3030; www.dominos.com; Shares outstanding: 56.4 million; Market cap: $2.8 billion; Dividend yield: 1.6%) continues to expand internationally. It just opened its first store in Thailand, in the city of Bangkok, and plans to add more outlets in the country in the next few years. Domino’s now operates in over 70 markets worldwide. Its international stores supply almost half of its sales and about a third of its earnings. Pizza is still something of a luxury item in many developing countries like Thailand. But the steady emergence of a middle class with rising discretionary spending power around the world gives Domino’s lots of room to grow internationally. Pizza has proven hugely popular globally, and it’s easy for store operators to adapt to local tastes by simply offering different toppings. For example, in Thailand, several pizzas will include local hot red chilies. Domino’s shares are up 77% for us since mid-2012 and…