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Domino's Pizza Inc. (DPZ - Analyst Report) is set to launch its new restaurant in Metairie, New Orleans in association with its franchisee owner, Glenn Mueller, on May 28, 2013. The opening will mark the debut of the company’s first ‘pizza theater’ store design in Metairie.

Apart from this new Metairie unit, the company operates two other pizza theater restaurants in the Greater New Orleans area. The company’s franchise partner believes that this new design concept has immense untapped opportunities for Domino’s, with the potential to place the brand as a leading one in the region eventually.

Domino's has been consistently improving its operation in order to strengthen its potential as a brand and improve its client experience which in turn will help drive traffic. Domino's has started implementing a new retail design concept named pizza theater in its restaurants, which features spacious lobby and an open-space to observe the entire cooking process. The company has also installed an electronic board in these new concept restaurants for easy tracking of orders. We believe that this new initiative will boost Domino's’ sales, going forward.

This Zacks Rank #2 (Buy) company boasts a strong market share in the U.S. pizza category, which primarily comprises delivery, dine-in and carry-out segments. The company is the market leader in the delivery segment in the U.S. and ranks second in the carry-out segment. Internationally, it is the second largest pizza delivery service based on the number of units and sales.

It delivered solid results in 2012 and continued its winning momentum in first-quarter 2013. Its first-quarter results beat the Zacks Consensus Estimate for both earnings per share and revenues and also grew year over year, driven by improved volumes, global market share growth and operating margin expansion.

Some other restaurateurs, which look attractive at current levels, include Bloomin' Brands, Inc. (BLMN - Snapshot Report), CEC Entertainment Inc. and Burger King Worldwide Inc. (BKW - Analyst Report). While Bloomin' Brands and CEC Entertainment carry a Zacks Rank #1 (Strong Buy), Burger King retains a Zacks Rank #2 (Buy).

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