Domino's Pizza Inc. saw global retail sales growth of 4.9% in Q4 and 5.4% growth for fiscal 2023.

The brand's U.S. same-store sales growth was 2.8%, with 1.6% growth for fiscal 2023.

In fact, it was growth everywhere for the pizza chain, according to a press release, with international same stores sales growth of 0.1% and 1.7% growth for fiscal 2023.

Global net store growth was 394 for the fourth quarter; 711 for fiscal 2023 (excluding closure of the Russia market, global net stores grew by 870 for fiscal 2023).

"Our strong fourth quarter demonstrates that our 'hungry for more' strategy is already delivering results. This strategy, which we recently unveiled at our Investor Day, is our plan to deliver more sales, more stores and more profits," Russell Weiner, Domino's CEO, said in the release. "Domino's foundation has never been stronger. Our positive U.S. transactions and same store sales growth in both our delivery and carryout channels in the fourth quarter underscore the strength and momentum in our business. These results give us confidence in our brand and the company's ability to win and create meaningful value for our shareholders."

Revenues increased $10.7 million, or 0.8%, in the fourth quarter of 2023 as compared to the fourth quarter of 2022, primarily due to higher global franchise royalties and fees, resulting from global retail sales growth (excluding foreign currency impact) and higher supply chain revenues, partially offset by a decrease in U.S. franchise advertising revenues.

Income from operations increased $8.4 million, or 3.4%, in the fourth quarter of 2023 as compared to the fourth quarter of 2022 primarily due to higher global franchise royalty revenues resulting from global retail sales growth (excluding foreign currency impact) of 4.9%, as well as higher supply chain gross margin.

Net income decreased $1.0 million, or 0.6%, in the fourth quarter of 2023 as compared to the fourth quarter of 2022, primarily due to an increase in the company's provision for income taxes.

In December the chain announced the following long-term guidance metrics:

  • 7%-plus annual global retail sales growth.
  • 1,100-plus annual global net store growth.
  • 8%-plus annual income from operations growth.

Domino's Pizza has more than 20,500 stores in over 90 markets.

Copyright © 2024 Networld Media. All rights reserved., source Industry News