<SEC-DOCUMENT>0001193125-16-797220.txt : 20170202
<SEC-HEADER>0001193125-16-797220.hdr.sgml : 20170202
<ACCEPTANCE-DATETIME>20161219155156
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-16-797220
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20161219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DOMINOS PIZZA INC
		CENTRAL INDEX KEY:			0001286681
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & RELATED PRODUCTS [5140]
		IRS NUMBER:				382511577

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		30 FRANK LLOYD WRIGHT DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48106

	MAIL ADDRESS:	
		STREET 1:		30 FRANK LLOYD WRIGHT DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48106
</SEC-HEADER>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;19, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
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<TD VALIGN="top" NOWRAP>Attention:</TD>
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<TD VALIGN="top" COLSPAN="3" NOWRAP>William H. Thompson<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman">Ta Tanisha Meadows</P>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman">Donna Di Silvio</P></TD></TR>
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<TD VALIGN="top" NOWRAP>Re:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Domino&#146;s Pizza, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form 10-K for the
Fiscal Year Ended January&nbsp;3, 2016</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed February&nbsp;25, 2016</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">File No.&nbsp;001-32242</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Domino&#146;s Pizza, Inc. (the &#147;Company&#148;) respectfully submits this letter in response to the comments contained in the letter to the Company dated
December&nbsp;14, 2016 from the staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) relating to the Company&#146;s Annual Report on Form 10-K filed with the Commission on February&nbsp;25, 2016. For
the convenience of the Staff, we have reproduced the comments in bold, followed by the Company&#146;s responses. References to page numbers are to the page numbers in the corresponding filing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Form 10-K for the Fiscal Year Ended January&nbsp;3, 2016 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item&nbsp;7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Fiscal 2015 Highlights, page 24 </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. Please describe
the significant terms and provisions of the &#147;Piece of the Pie&#148; rewards program and the amounts recorded for 2015. Please tell us how you account for the program, and if material, your consideration of disclosing your accounting policy in
the footnotes to your financial statements. </B></P>

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<TD VALIGN="top">Securities and Exchange Commission</TD>
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<TD VALIGN="top" ALIGN="right">December 19, 2016</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response to
Comment 1: </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company supplementally advises the Staff that the Company introduced its Piece of the Pie loyalty program in 2015. As part of the Piece
of the Pie loyalty program, Domino&#146;s Pizza customers in the United States may earn loyalty points for various reasons, primarily for making on-line purchases. For example, each time a participating customer places and pays for an on-line order
with a ticket price of ten dollars ($10) or more, the customer will earn ten loyalty points. When that customer earns 60 points, he or she may redeem the points for a medium hand tossed or thin crust two-topping pizza. Each store in the United
States (both franchised and Company-owned) is responsible for fulfilling the orders placed through a redemption of loyalty points at that store, regardless of whether the loyalty points were earned at that store or another store. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Domino&#146;s Pizza stores in the United States are primarily franchise-owned. As of January&nbsp;3, 2016, there were 4,816 domestic franchise store locations
and 384 domestic Company-owned store locations. Domino&#146;s Pizza franchisees are independent business owners and their retail sales are not our revenues. Accordingly, loyalty retail sales at domestic franchise stores are franchisees&#146;
revenues and fulfillment of loyalty orders are franchisees&#146; costs. The Company&#146;s consolidated financial results only include accounting for loyalty retail sales at its domestic Company-owned store locations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on the guidance within ASC 605, Revenue Recognition, the Company records revenue for the portion of domestic Company-owned store retail sales that
relates to products purchased by the customer, and records deferred revenue for the portion of the domestic Company-owned store retail sales that relates to loyalty points earned. As loyalty points are redeemed, the Company recognizes the deferred
revenue and the related expense to fulfill the order in its consolidated statement of income. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In fiscal 2015, the Company deferred approximately $1.3
million of its domestic Company-owned store revenues related to its Piece of the Pie loyalty program and recognized approximately $0.3 million in domestic Company-owned store revenues upon customers&#146; redemption of loyalty points, resulting in a
net deferred revenue liability of approximately $1.0 million on the Company&#146;s consolidated balance sheet as of January&nbsp;3, 2016. This amount represented approximately 0.2% of domestic Company-owned store revenues and less than 0.1% of the
Company&#146;s consolidated revenues for fiscal 2015. Additionally, this net deferred revenue liability amount represented less than 0.3% of current liabilities and less than 0.1% of total liabilities as of January&nbsp;3, 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on the foregoing, the Company determined that the amounts related to its Piece of the Pie loyalty program were not material to its fiscal 2015
consolidated financial statements and did not disclose the accounting policy for the Piece of the Pie loyalty program in the footnotes to its consolidated financial statements. The Company will continue to monitor the amounts associated with its
Piece of the Pie loyalty program to assess whether financial statement disclosure is warranted in future filings. </P>
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<TD VALIGN="top">Securities and Exchange Commission</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top" ALIGN="right">December 19, 2016</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. We note your
&#147;Piece of the Pie&#148; rewards program will now include an opportunity for eligible members to be entered into drawings with a chance to receive ten shares of your stock with no purchase necessary. Please tell us how you plan to account for
this part of your program and the fees to be paid to Fidelity. Also please show us your proposed disclosure for the footnotes to your financial statements. Further, please separately address your accounting and proposed disclosure as it relates to
#PieceofthePieContest. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response to Comment 2: </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company supplementally advises the Staff that its Piece of the Pie Contest, which was introduced in December 2016, includes an award of ten shares of
Company common stock to each of the 25 contest winners per month for a 12-month period, which will result in a maximum of 3,000 shares to be awarded to contest winners. The Company estimates that the expense associated with this portion of the
contest will be approximately $500,000 (based on current share prices for the Company&#146;s common stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In order to account for this part of the
Piece of the Pie Contest, a consolidated subsidiary of the Company will record an expense (approximately $500,000) for the cost of such shares and will either provide Fidelity with the funds necessary to purchase the required number of shares of the
Company&#146;s common stock on the open market or will provide Fidelity with the necessary number of newly-issued shares. However, it is not expected that the Company will issue new shares of its common stock as part of this program. Fidelity will
then deposit the shares in the applicable contest winner&#146;s brokerage account at Fidelity. The Company has not paid and does not expect to pay fees to Fidelity to administer this program. Based on the foregoing, the Company has determined that
the amounts related to this portion of the contest will not be material to its consolidated financial statements and, therefore, does not intend to include footnote disclosures related to this portion of the contest in its consolidated financial
statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Separately, the #PieceofthePieContest includes awarding each of 50 contest winners with $10,000 in cash. The expense associated with this
portion of the contest is expected to be $500,000. In order to account for this portion of the contest, a consolidated subsidiary will record the $500,000 expense and the Company will provide each contest winner with a check for $10,000. Based on
the foregoing, the Company has also determined that the amounts related to this portion of the contest will not be material to its consolidated financial statements and, therefore, does not intend to include footnote disclosures related to this
portion of the contest in its consolidated financial statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
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<TD VALIGN="top">Securities and Exchange Commission</TD>
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<TD VALIGN="top" ALIGN="right">December 19, 2016</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I hope that the
foregoing has been responsive to your comments. If you should have any questions about this letter or require any further information, please call me at (734)&nbsp;930-3205 or (586)&nbsp;246-8598. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Jeffrey D. Lawrence </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeffrey D. Lawrence </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Financial Officer </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>cc:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Adam J. Gacek, Vice President, Associate General Counsel and Corporate Secretary</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Craig E. Marcus, Ropes&nbsp;&amp; Gray LLP</P></TD></TR>
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