Operations

Higher prices drive Domino’s Q3 2022 revenue growth

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October 14, 2022

Domino's Pizza saw global retail growth of 4.7%, U.S. same-store sales growth of 2.0% and international same-store sales dip by 1.8% in the 2022 third quarter.

The international decline was driven, in part, by a value added tax holiday in the U.K. this year which did not occur a year ago, according to a press release on the quarterly results.

Diluted EPS down was $2.79, a dip of 13.9% from diluted EPS of $3.24 in the same quarter in 2021. Net income dropped 16.5%, hitting $19.9 million.

Revenues increased $70.6 million, reflecting a growth of 7.1% compared to a year ago which the brand attributes to a 13.4% market basket pricing to stores

"I'm encouraged with our performance and the sequential improvements we made during the third quarter. Our team members and franchisees around the world continued to show the agility and perseverance required to operate in a volatile macro-economic environment," Russell Weiner, Domino's CEO, said in the release. "As we begin the fourth quarter, I believe Domino's is poised to emerge from these volatile times stronger than ever. We delivered around one out of every three pizzas in the United States before the pandemic, and we deliver around one out of every three pizzas today. Combined with our strong carryout business where we have continued to accelerate our momentum, I have never been more confident in the future of Domino's Pizza."