Operations

Domino’s Pizza 1st quarter financials a mixed bag

Photo by istock.com

April 28, 2022

While global retail sales grew 3.6% in the first quarter of 2022, Domino's Pizza saw a U.S. same store sales decline of 3.6%.

International same store sales increased 1.2%, marking the 113th consecutive quarter of growth, according to a press release.

The first quarter had global net store growth of 213 stores, of which 37 were U.S. openings.

"We faced a number of headwinds during the first quarter, from the omicron surge, to staffing shortages to unprecedented inflation, which pressured our results. We are actively implementing strategies designed to address them; however, we expect some of these headwinds are likely to persist further into 2022," Ritch Allison, Domino's CEO, said in the release. "The strength of the Domino's brand is not defined in the short term, but instead by our outstanding long-term track record and the ongoing commitment of our team members and franchisees, as evidenced by continued strong store growth, including the opening of our 19,000th global store during the quarter."

Allison is leaving his role as of May 1 as Russel Weiner will take the role of CEO.