Operations

Domino’s Pizza enjoys Q2 retail sales growth

Hand Robot - stock.adobe.com

July 24, 2023

Domino's Pizza saw global retail sales growth of 5.8%, U.S. same-store sales growth of 0.1% and international same-store sales growth of 3.6% in its second quarter of 2023.

The brand grew its footprint by 197 stores, of which 27 were in the U.S., according to a press release on its financial results.

"We are executing our plan to restore delivery growth in the U.S.," Russell Weiner, Domino's CEO, said in the release. "Our efforts to improve service and staffing while driving value and innovation will continue to make a difference in driving order counts in this important part of our business. We will also benefit globally from the deal we recently announced with Uber. Over two-thirds of our stores around the world will have the ability to take orders from Uber Eats. We are excited to strategically enter the multi-billion dollar aggregator marketplace as the number one pizza brand in the world."

In the second quarter Domino's had global retail sales of over $4.2 billion, with nearly $2.1 billion in the U.S. and over $2.1 billion internationally.

Revenues decreased 3.8% in the second quarter compared to a year ago which Domino's attributed primarily due to lower supply chain revenues as well as lower order volumes.

U.S. franchise royalties and fees increased primarily due to an increase in fees paid by U.S. franchisees for the use of the company's technology platforms as well as U.S. retail sales growth attributable to net store growth.

Net income increased $6.9 million, or 6.7%, in the second quarter of 2023 as compared to the second quarter of 2022 primarily due to higher income from operations.

Founded in 1960, Domino's Pizza operates more than 20,000 stores in over 90 markets.