Domino’s Pizza announced results for the first quarter of 2023. Its global retail sales grew 5.9%, excluding the negative impact of foreign currency. Without adjusting for the impact of foreign currency, global retail sales grew 2.2% in the first quarter of 2023. The company opened 128 new stores in Q1, of which 22 were in the U.S. and 106 international store openings. Meanwhile, 40 closures were recorded during the first quarter of 2023.
“As I reflect on the first quarter, I can’t help but be encouraged by the resilience of our business model and the competitive advantage our franchisees and team members bring to Domino’s Pizza,” said Russell Weiner, Domino’s Chief Executive Officer.
Revenues increased by USD 13.2 million, or 1.3%, in the first quarter of 2023 as compared to the first quarter of 2022, primarily due to higher supply chain revenues.
First | First | |||||||||
Same store sales growth: (versus prior year period) | ||||||||||
U.S. Company-owned stores | + 7.3 % | (10.5) % | ||||||||
U.S. franchise stores | + 3.4 % | (3.2) % | ||||||||
U.S. stores | + 3.6 % | (3.6) % | ||||||||
International stores (excluding foreign currency impact) | + 1.2 % | + 1.2 % | ||||||||
Global retail sales growth: (versus prior year period) | ||||||||||
U.S. stores | + 5.1 % | (1.4) % | ||||||||
International stores | (0.5) % | + 2.0 % | ||||||||
Total | + 2.2 % | + 0.3 % | ||||||||
Global retail sales growth: (versus prior year period, | ||||||||||
U.S. stores | + 5.1 % | (1.4) % | ||||||||
International stores | + 6.5 % | + 8.4 % | ||||||||
Total | + 5.9 % | + 3.6 % | ||||||||
U.S. Company- | U.S. Franchise | Total | International | Total | ||||||
Store counts: | ||||||||||
Store count on January 1, 2023 | 286 | 6,400 | 6,686 | 13,194 | 19,880 | |||||
Openings | 1 | 24 | 25 | 143 | 168 | |||||
Closings | (1) | (2) | (3) | (37) | (40) | |||||
Transfers | (1) | 1 | — | — | — | |||||
Store count on March 26, 2023 | 285 | 6,423 | 6,708 | 13,300 | 20,008 | |||||
First quarter 2023 net store growth | — | 22 | 22 | 106 | 128 | |||||
Trailing four quarters net store growth | — | 111 | 111 | 836 | 947 |
Founded in 1960, Domino’s Pizza has more than 20,000 stores in over 90 markets. Domino’s had global retail sales of over USD 17.5 billion in 2022, with over USD 8.7 billion in the U.S. and nearly USD 8.8 billion internationally. In the first quarter of 2023, Domino’s had global retail sales of over USD 4.1 billion, with over USD 2.0 billion in the U.S. and nearly USD 2.1 billion internationally. Its system is comprised of independent franchise owners who accounted for 99% of Domino’s stores as of the end of the first quarter of 2023. “Emphasis on technology innovation helped Domino’s achieve approximately two-thirds of all global retail sales in 2022 from digital channels,” the company highlights. In the U.S., Domino’s generated more than 80% of U.S. retail sales in 2022 via digital channels and has developed several innovative ordering platforms, including those for Apple CarPlay, Google Home, Amazon Alexa, Facebook Messenger and more.
Photo: Domino’s Pizza Twitter
