<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC 20549

                                   FORM 10-Q

         (Mark One)

         [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended March 25, 2001
                                                --------------

                                      OR

         [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934
          For the transition period from: ___________ to ___________

                      Commission file number:  333-74797


                                Domino's, Inc.
            (Exact name of registrant as specified in its charter)


              Delaware                                38-3025165
     (State or other jurisdiction of               (I.R.S. Employer
     incorporation or organization)                Identification Number)


                          30 Frank Lloyd Wright Drive
                           Ann Arbor, Michigan 48106
                   (Address of principal executive offices)

                                (734) 930-3030
             (Registrant's telephone number, including area code)

Indicate by check mark whether registrant (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                            Yes [X]        No [_]

The number of shares outstanding of the registrant's common stock as of April
30, 2001 was 10 shares.
<PAGE>

                                Domino's, Inc.

                                     INDEX

<TABLE>
<CAPTION>
PART I.   FINANCIAL INFORMATION                                               Page No.
                                                                              --------
<S>                                                                           <C>
Item 1.   Financial Statements

                    Condensed Consolidated Balance Sheets -
                     March 25, 2001 and December 31, 2000                            3

                    Condensed Consolidated Statements of Income -
                     Fiscal quarter ended March 25, 2001 and
                     March 26, 2000                                                  4

                    Condensed Consolidated Statements of Cash Flows -
                     Fiscal quarter ended March 25, 2001 and
                     March 26, 2000                                                  5

                    Notes to Condensed Consolidated Financial Statements             6

Item 2.   Management's Discussion and Analysis of Financial Condition and
           Results of Operation                                                      7

Item 3.   Quantitative and Qualitative Disclosures About Market Risk                10


PART II.  OTHER INFORMATION                                                         11

SIGNATURES                                                                          11
</TABLE>

                                       2
<PAGE>

PART I.   FINANCIAL INFORMATION
Item 1.  Financial Statements

                        Domino's, Inc. and Subsidiaries
                     Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>
(In thousands)                                    March 25, 2001       December 31, 2000
Assets                                              (Unaudited)              (Note)
                                                  --------------       -----------------
<S>                                               <C>                  <C>
Current assets:
     Cash                                         $       20,743        $       25,136
     Accounts receivable                                  50,743                48,682
     Notes receivable                                      3,465                 3,833
     Inventories                                          16,402                19,086
     Prepaid expenses and other                            6,920                 6,580
     Deferred income taxes                                 9,290                 9,290
                                                  --------------        --------------
Total current assets                                     107,563               112,607
                                                  --------------        --------------

Property, plant and equipment:
     Land and buildings                                   14,890                14,917
     Leasehold and other improvements                     54,566                55,100
     Equipment                                           116,385               114,456
     Construction in progress                              6,147                 7,366
                                                  --------------        --------------
                                                         191,988               191,839
     Accumulated depreciation and amortization           106,474               106,526
                                                  --------------        --------------
Property, plant and equipment, net                        85,514                85,313
                                                  --------------        --------------

Other assets:
     Deferred income taxes                                71,391                71,253
     Deferred financing costs                             29,302                30,626
     Goodwill                                             14,464                14,944
     Covenants not-to-compete                              4,515                 5,851
     Capitalized software                                 29,891                27,388
     Other                                                20,611                21,647
                                                  --------------        --------------
Total other assets                                       170,174               171,709
                                                  --------------        --------------
Total assets                                      $      363,251        $      369,629
                                                  ==============        ==============

Liabilities and stockholder's deficit
Current liabilities:
     Current portion of long-term debt            $       19,440        $       21,482
     Accounts payable                                     33,396                38,335
     Insurance reserves                                    7,080                 6,793
     Accrued income taxes                                  7,362                 2,778
     Other accrued liabilities                            50,940                55,924
                                                  --------------        --------------
Total current liabilities                                118,218               125,312
                                                  --------------        --------------

Long-term liabilities:
     Long-term debt, less current portion                659,728               664,592
     Insurance reserves                                    8,872                 9,633
     Other accrued liabilities                            24,125                24,899
                                                  --------------        --------------
Total long-term liabilities                              692,725               699,124
                                                  --------------        --------------

Stockholder's deficit:
     Common stock                                              -                     -
     Additional paid-in capital                          120,202               120,202
     Retained deficit                                   (566,848)             (574,657)
     Accumulated other comprehensive income               (1,046)                 (352)
                                                  --------------        --------------
Total stockholder's deficit                             (447,692)             (454,807)
                                                  --------------        --------------
Total liabilities and stockholder's deficit       $      363,251        $      369,629
                                                  ==============        ==============
</TABLE>

________
Note: The balance sheet at December 31, 2000 has been derived from the audited
consolidated financial statements at that date but does not include all of the
information and footnotes required by accounting principles generally accepted
in the United States for complete financial statements.

See accompanying notes.

                                       3
<PAGE>

                        Domino's, Inc. and Subsidiaries
                  Condensed Consolidated Statements of Income
                                  (Unaudited)

                                        Fiscal Quarter Ended
                                      March 25,      March 26,
(In thousands)                          2001           2000
                                      ------------------------
Revenues:
  Corporate stores                    $  90,843      $  90,240
  Domestic franchise royalties           30,625         27,631
  Domestic distribution                 150,603        135,080
  International                          15,560         13,967
                                      ---------      ---------
Total revenues                          287,631        266,918
                                      ---------      ---------

Operating expenses:
  Cost of sales                         212,246        195,055
  General and administrative             46,543         46,121
                                      ---------      ---------
Total operating expenses                258,789        241,176
                                      ---------      ---------
Income from operations                   28,842         25,742

Interest income                             595            531
Interest expense                         16,591         17,470
                                      ---------      ---------
Income before provision
  for income taxes                       12,846          8,803

Provision for income taxes                5,037          3,756
                                      ---------      ---------

Net income                            $   7,809      $   5,047
                                      =========      =========

________
See accompanying notes.

                                       4
<PAGE>

                        Domino's, Inc. and Subsidiaries
                Condensed Consolidated Statements of Cash Flows
                                  (Unaudited)


                                                        Fiscal Quarter Ended
                                                     March 25,        March 26,
                                                       2001             2000
                                                     ---------        ---------
(In thousands)
Cash flows from operating activities:
  Net cash provided by operating activities          $  10,262        $  10,968
                                                     ---------        ---------

Cash flows from investing activities:
  Purchases of property, plant and equipment,
    and franchise stores and commissaries               (9,735)         (10,972)
  Other                                                  2,001             (104)
                                                     ---------        ---------
Net cash used in investing activities                   (7,734)         (11,076)
                                                     ---------        ---------

Cash flows from financing activities:
  Repayments of long-term debt                          (6,900)          (9,475)
  Distributions                                              -             (338)
                                                     ---------        ---------
Net cash used in financing activities                   (6,900)          (9,813)
                                                     ---------        ---------

Effect of exchange rate changes on cash                    (21)             (46)
                                                     ---------        ---------
Decrease in cash                                        (4,393)          (9,967)

Cash, at beginning of period                            25,136           30,278
                                                     ---------        ---------

Cash, at end of period                               $  20,743        $  20,311
                                                     =========        =========

________
See accompanying notes.

                                       5
<PAGE>

Domino's, Inc. and Subsidiaries
Notes to Condensed Consolidated Financial Statements
(Unaudited; tabular amounts in thousands)

March 25, 2001

1.   Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance with accounting principles generally accepted in the
United States for interim financial information and with the instructions to
Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all
of the information and footnotes required by accounting principles generally
accepted in the United States for complete financial statements. In the opinion
of management, all adjustments, consisting of normal recurring items, considered
necessary for a fair presentation have been included. Operating results for the
fiscal quarter ended March 25, 2001 are not necessarily indicative of the
results that may be expected for the year ended December 30, 2001. For further
information, refer to the consolidated financial statements and footnotes
thereto for the year ended December 31, 2000 included in our Form 10-K.

2.   Change in accounting principle

On January 1, 2001, the Company adopted SFAS No. 133 "Accounting for Derivative
Instruments and Hedging Activities" and two related Statements. The Company
recorded a $2.7 million derivative asset upon adoption, reflecting the
cumulative effect of this change in accounting principle relating to the fair
value of our interest rate swaps.


3.   Comprehensive Income

                                                    Fiscal Quarter Ended
                                                   ----------------------
                                                   March 25,    March 26,
                                                     2001         2000
                                                   ----------------------
Net income                                         $   7,809    $   5,047
Cumulative effect of change in
  accounting principle                                 2,685            -
Unrealized loss on derivative instruments             (2,660)           -
Reclassification adjustment for gains
  included in net income                                (532)           -
Currency translation adjustment                         (187)         (89)
Unrealized loss on investments, net of tax                 -          (23)
                                                   ---------    ---------
Comprehensive income                               $   7,115    $   4,935
                                                   =========    =========

4.   Segment Information

The following table summarizes revenues and earnings before interest, taxes,
depreciation and amortization (EBITDA) for each of the Company's reportable
segments.

<TABLE>
<CAPTION>
                            Fiscal quarter ended March 25, 2001 and March 26, 2000
                            ------------------------------------------------------
               Domestic      Domestic                       Intersegment
                Stores     Distribution    International      Revenues       Other       Total
               --------    ------------    -------------    ------------    --------    --------
<S>            <C>         <C>             <C>              <C>             <C>         <C>
Revenues -
   2001        $121,468      $175,484        $ 15,560        $(24,881)      $      -    $287,631
   2000         117,871       158,543          13,967         (23,463)             -     266,918
EBITDA -
   2001          32,684         9,488           3,893               -         (9,314)     36,751
   2000          32,491         7,605           3,185               -        (10,026)     33,255
</TABLE>

                                       6
<PAGE>

The following table reconciles total EBITDA to consolidated income before
provision for income taxes.

                                            Fiscal quarter ended
                                           ----------------------
                                           March 25,    March 26,
                                             2001         2000
                                           ---------    ---------
Total EBITDA                               $  36,751    $  33,255
Depreciation and amortization                 (6,965)      (7,506)
Interest expense                             (16,591)     (17,470)
Interest income                                  595          531
Loss on sale of plant and equipment             (944)          (7)
                                           ---------     --------
Income before provision
   for income taxes                        $  12,846     $  8,803
                                           =========     ========


Item 2. Management's Discussion and Analysis of Financial Condition and Results
of Operation

The 2001 and 2000 first fiscal quarters referenced herein represent the twelve-
week periods ended March 25, 2001 and March 26, 2000, respectively.

Results of Operations
---------------------

Revenues
--------

General.  Revenues include retail sales of food by Company-owned stores,
royalties and fees from domestic and international franchise stores, and sales
of food, equipment and supplies by our distribution centers to domestic and
international franchise stores.

Total revenues increased 7.8% to $287.6 million in the first quarter of 2001,
from $266.9 million for the comparable period in 2000. This increase in total
revenues is due primarily to increased domestic distribution revenues and, to a
lesser extent, increased revenues from domestic and international franchise
royalties. These results are more fully described below.

Domestic Stores
---------------

Corporate Stores.  Revenues from corporate store operations increased 0.7% to
$90.8 million in the first quarter of 2001, from $90.2 million for the
comparable period in 2000.

This increase in revenues is due primarily to an increase in same store sales
offset in part by a decrease in the average number of Company-owned stores open
during 2001 compared to the same period in 2000. Same store sales for Company-
owned stores increased 8.2% for the first quarter of 2001, compared to the same
period in 2000. The number of Company-owned stores was 605 and 662 as of March
25, 2001 and March 26, 2000, respectively. The average number of Company-owned
stores open during the first quarter of 2001 decreased by 45 stores compared to
the same period in 2000 primarily reflecting the strategic sales of certain
Company-owned stores to franchisees.

Domestic Franchise.  Revenues from domestic franchise operations increased 10.8%
to $30.6 million in the first quarter of 2001, from $27.6 million for the
comparable period in 2000.

This increase is due primarily to an increase in the number of domestic
franchise stores and an increase in same store sales. Same store sales for
domestic franchise stores increased 3.6% for the first quarter of 2001, compared
to the same period in 2000. The number of domestic franchise stores was 4,218
and 4,015 as of March 25, 2001 and March 26, 2000, respectively. The average
number of domestic franchise stores open during the first quarter of 2001
increased by 196 stores compared to the same period in 2000.

Domestic Distribution
---------------------

Revenues from domestic distribution operations increased 11.5% to $150.6 million
in the first quarter of 2001, from $135.1 million for the comparable period in
2000.

This increase is due primarily to increased volumes relating to increases in
domestic franchise same store sales and store count. Distribution volumes were
also positively impacted by our CinnaStix(R) promotion which ran during the
first quarter of 2001.

                                       7
<PAGE>

International
-------------

Revenues from international operations increased 11.4% to $15.6 million in the
first quarter of 2001, from $14.0 million for the comparable period in 2000.

This increase is due primarily to an increase in the number of international
franchise stores and an increase in same store sales. On a constant dollar
basis, same store sales increased by 9.8% for the first quarter of 2001,
compared to the same period in 2000. On a historic dollar basis, same store
sales increased by 2.4% for the first quarter of 2001, compared to the same
period in 2000, reflecting a strengthening U.S. Dollar. The number of
international stores was 2,223 and 1,975 as of March 25, 2001 and March 26,
2000, respectively. The average number of international stores open during the
first quarter of 2001 increased by 245 stores compared to the same period in
2000.

Operating Expenses
------------------

Cost of sales increased 8.8% to $212.2 million in the first quarter of 2001,
from $195.1 million for the comparable period in 2000. Gross profit increased
4.9% to $75.4 million in the first quarter of 2001, from $71.9 million for the
comparable period in 2000.

This increase in gross profit is due primarily to an increase in total revenues,
primarily as a result of system-wide store and same store sales growth, as well
as the increase in Distribution volumes. These increases in gross profit were
offset in part by increases in food and labor costs in our Company-owned stores.

General and administrative expenses increased 0.9% to $46.5 million in the first
quarter of 2001, from $46.1 million for the comparable period in 2000. As a
percentage of total revenues, general and administrative expenses decreased 1.1%
to 16.2% in the first quarter of 2001, from 17.3% for the comparable period in
2000.

This decrease is due primarily to a decrease in covenants not-to-compete
amortization expense and a decrease in professional fees. Covenants not-to-
compete amortization expense, primarily related to the covenant obtained as part
of our parent company's recapitalization, decreased $1.3 million to $1.3 million
in the first quarter of 2001, compared to the same period in 2000. This decrease
is due to the use of an accelerated amortization method over the covenant's
three-year term.

Interest Expense
----------------

Interest expense decreased $0.9 million to $16.6 million in the first quarter of
2001, from $17.5 million for the comparable period in 2000. This decrease is due
primarily to a decrease in related variable interest rates and reduced debt
levels.

Provision for Income Taxes
--------------------------

Provision for income taxes increased $1.2 million to $5.0 million in the first
quarter of 2001, from $3.8 million for the comparable period in 2000. This
increase is due primarily to an increase in pre-tax income.

Liquidity and Capital Resources
-------------------------------

We had negative working capital of $10.7 million and cash of $20.7 million at
March 25, 2001. Historically, we have operated with minimal positive working
capital or negative working capital primarily because our receivable collection
periods and inventory turn rates are faster than the normal payment terms on our
current liabilities. In addition, our sales are not typically seasonal, which
further limits our working capital requirements. Our primary sources of
liquidity are cash flows from operations and availability of borrowings under
our revolving credit facility. We expect to fund planned capital expenditures
and debt commitments from these sources.

As of March 25, 2001, we had $679.2 million of long-term debt, of which $19.4
million was classified as a current liability. There were no borrowings under
our $100 million revolving credit facility and letters of credit issued under
the revolving credit facility were $14.2 million. The borrowings under the
revolving credit facility are available to fund our working capital
requirements, capital expenditures and other general corporate purposes.

                                       8
<PAGE>

Cash provided by operating activities was $10.3 million and $11.0 million for
the first quarters of 2001 and 2000, respectively. The $0.7 million decrease is
due primarily to a $2.8 million net change in operating assets and liabilities,
a $0.5 million decrease in depreciation and amortization, and a $1.0 million
change in deferred income tax provision. These decreases in cash provided by
operating activities were offset in part by a $2.8 million increase in net
income and a $0.9 million increase in loss on sale of plant and equipment
related to sales of Company-owned stores to franchisees and relocations of
certain Company-owned stores.

Cash used in investing activities was $7.7 million and $11.1 million for the
first quarters of 2001 and 2000, respectively. The $3.4 million decrease is due
primarily to a $4.8 million decrease in purchases of franchise operations and a
$1.8 million net change in other assets. These decreases in cash used in
investing activities were offset in part by a $3.6 million increase in purchases
of property, plant and equipment due primarily to increased investments on our
next generation store systems project.

Cash used in financing activities was $6.9 million and $9.8 million for the
first quarters of 2001 and 2000, respectively. The $2.9 million decrease is due
primarily to additional cash sweep payments in 2000.

Based upon the current level of operations and anticipated growth, we believe
that the cash generated from operations and amounts available under the
revolving credit facility will be adequate to meet our anticipated debt service
requirements, capital expenditures and working capital needs for the next
several years. There can be no assurance, however, that our business will
generate sufficient cash flow from operations or that future borrowings will be
available under the senior credit facilities or otherwise to enable us to
service our indebtedness, including the senior credit facilities and the Senior
Subordinated Notes, to redeem or refinance TISM's, our Parent company,
Cumulative Preferred Stock when required or to make anticipated capital
expenditures. Our future operating performance and our ability to service or
refinance the Senior Subordinated Notes and to service, extend or refinance the
senior credit facilities will be subject to future economic conditions and to
financial, business and other factors, many of which are beyond our control.

Forward-Looking Statements
--------------------------

Certain statements contained in this filing relating to capital spending levels
and the adequacy of our capital resources are forward-looking. Also statements
that contain words such as "believes," "expects," "anticipates," "intends,"
"estimates" or similar expressions are forward-looking statements. Forward-
looking statements involve risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by such forward-
looking statements. Among these risks and uncertainties are competitive factors,
increases in our operating costs, ability to retain our key personnel, our
substantial leverage, ability to implement our growth and cost-saving
strategies, industry trends and general economic conditions, adequacy of
insurance coverage and other factors, all of which are described in the 10-K for
the year ended December 31, 2000 and our other filings with the Securities and
Exchange Commission. We do not undertake to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

                                       9
<PAGE>

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Market Risk
-----------

The Company is exposed to market risks primarily from interest rate changes on
our variable rate debt and foreign currency fluctuations relating to
international revenues. Management actively monitors these exposures. As a
policy, the Company does not engage in speculative transactions nor does it hold
or issue financial instruments for trading purposes.

Interest Rate Swaps
-------------------

The Company may enter into interest rate swaps or similar instruments with the
objective of reducing our volatility in borrowing costs. In 1999, we entered
into two interest rate swap agreements to effectively convert the Eurodollar
interest rate component on a portion of our variable rate debt to a fixed rate
of 5.12% through December 2001. As of March 25, 2001, the total notional amount
of these swap agreements was $173.0 million.


Interest Rate Risk
------------------

The Company's variable interest expense is sensitive to changes in the general
level of interest rates. As of March 25, 2001, a portion of the Company's debt
is borrowed at Eurodollar rates plus a blended margin rate of approximately
3.2%. At March 25, 2001, the weighted average interest rate on our $241.0
million of variable interest debt was approximately 8.6%. The fair value of the
Company's debt approximates its carrying value.

The Company had total interest expense of approximately $16.6 million for the
first quarter of 2001. The estimated increase in interest expense from a
hypothetical 200 basis point adverse change in applicable variable interest
rates would be approximately $1.1 million.

                                       10
<PAGE>

PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

None.

Item 2.  Changes in Securities and Use Of Proceeds

None.

Item 3.  Defaults Under Senior Securities

None.

Item 4.  Submission of Matters to a Vote of Security Holders

None.

Item 5.  Other Information

None.

Item 6.  Exhibits and Reports on Form 8-K

a.   Exhibits

     Exhibit
     Number    Description
     ------    -----------

     None.


b.   Current Reports on Form 8-K

     There were no reports filed on Form 8-K during the quarter ended March 25,
     2001.



SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                             DOMINO'S, INC.
                                             (Registrant)


Date: May 8, 2001                            /s/ Harry J. Silverman
                                             -----------------------------------
                                             Chief Financial Officer

                                       11