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Domino's Pizza CFO Jeffrey Lawrence To Retire; Q2 Global Retail Sales Up 5.7%

Domino's Pizza Inc. (DPZ) said that that its Executive Vice President and Chief Financial Officer, Jeffrey Lawrence, plans to retire from the company after more than 20 years of service. He has served in his current role for the last five years. Lawrence has agreed to continue serving as Chief Financial Officer until the company identifies his successor.

Once a successor is named, Lawrence will step down from his role and will serve as an advisor to Domino's Chief Executive Officer Ritch Allison until the end of 2020, the company said.

Meanwhile, the company reported that global retail sales increased 5.7% in the second quarter, or 8.1% excluding foreign currency impact. Global retail sales in the second quarter were positively impacted by U.S. same store sales, but were negatively impacted by temporary store closures in certain international markets.

U.S. same store sales grew 16.1% during the quarter compared to last year the year-ago period and were positively impacted by customer ordering behavior during the COVID-19 pandemic, continuing the positive sales momentum in the Company's U.S. stores business.

The international business also posted positive same store sales results, with growth of 1.3% during the quarter.

The company declared a $0.78 per share quarterly dividend for shareholders of record as of September 15, 2020 to be paid on September 30, 2020.

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