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Domino's Pizza Inc. (NYSE: DPZ) is the largest pizza company in the world, founded in 1960 and headquartered in Ann Arbor, Michigan. As an operator and franchiser, Domino's boasts a vast network of approximately 20,700 stores spanning over 90 international markets by early 2024.
Domino's core business includes the sale of pizza, wings, salads, sandwiches, and desserts through company-owned stores and franchise-operated locations. The company generates revenue from sales at these stores, royalty and marketing contributions from franchisees, and its supply chain operations, which include 25 domestic and five Canadian dough manufacturing and supply chain facilities. These facilities centralize purchasing, preparation, and last-mile delivery for Domino's restaurants in the US and Canada.
In 2023, Domino's achieved roughly $18.3 billion in system sales, solidifying its position as the top player in the global pizza market, ahead of competitors like Pizza Hut, Little Caesars, and Papa John's. Domino's technological innovations have been a hallmark of its strategy, with significant investments in digital ordering platforms. In the U.S., over 85% of retail sales in 2023 were made via digital channels, including platforms like Apple CarPlay, Amazon Alexa, and text-to-order services.
Recent achievements include the launch of Pinpoint Delivery in 2023, enabling customers to receive delivery almost anywhere, marking a new era in delivery services. The company is also known for its cutting-edge ordering apps for iPhone® and Android™ and continues to introduce delicious new menu items.
Domino's is greatly involved in community and charitable activities. In 2023, Domino's customers donated more than $16 million to St. Jude Children's Research Hospital®, supporting its mission to advance treatments and research for childhood cancer and other life-threatening diseases. Domino's also committed to funding The Domino's Village, a patient housing facility at St. Jude, showcasing its ongoing support and dedication to social causes.
One of Domino's remarkable initiatives is the
Domino's Pizza reported strong Q2 2024 results, with global retail sales growth of 7.2% excluding foreign currency impact. Key highlights include:
- U.S. same store sales growth of 4.8%
- International same store sales growth of 2.1%
- Global net store growth of 175
- Income from operations increased 0.4% (1.7% excluding foreign currency impact)
- Net income up 29.8% to $142.0 million
- Diluted EPS up 30.8% to $4.03
The company maintained its long-term guidance of 7%+ annual global retail sales growth and 8%+ annual income from operations growth. However, it adjusted its international store growth outlook due to challenges faced by a master franchisee.
Domino's Pizza (NYSE: DPZ) has appointed Maureen Pittenger as the new executive vice president and chief human resources officer, effective July 8, 2024. Pittenger will report directly to CEO Russell Weiner and will oversee all human resources strategies and functions. She brings over 20 years of experience in human resources, including her most recent role as senior vice president and chief human resources officer at Dana. Pittenger has a track record of building high-performing teams and is expected to enhance Domino's workforce development efforts globally. She holds a bachelor's degree from the University of Michigan-Dearborn and a Juris Doctorate from Wayne State University. Pittenger expressed excitement about joining Domino's to help foster a dynamic culture and develop top-tier talent.
Domino's Pizza (NYSE: DPZ) announced its Second Quarter 2024 Earnings Webcast scheduled for July 18, 2024, at 8:30 a.m. ET. The webcast will be available live on the company's investor relations website, and an archive will be accessible for replay. Results along with supplemental materials will be released at 6:05 a.m. ET on the same day. For further information, Greg Lemenchick, Vice President of Investor Relations, can be contacted via email.
Domino's Pizza (NYSE: DPZ) will participate in a fireside chat at the Oppenheimer 24th Annual Consumer Growth & E-Commerce Conference. CFO Sandeep Reddy will represent the company at the event, scheduled for June 10, 2024, at 11:15 a.m. ET. The session will be accessible via live webcast at the provided link and will also be archived for later viewing on Domino's website.
Domino's Pizza (NYSE: DPZ) is offering a -time promotion of 50% off on all menu-priced pizzas ordered online from June 3-9, 2024, to celebrate the upcoming summer season. This deal applies to all crust types, including the newest addition, New York Style, which features fresh, never-frozen dough stretched thin and cut into six foldable slices. The promotion is available through Domino's website and mobile app, providing an excellent value for customers looking to enjoy various pizza options, including Hand Tossed, Handmade Pan, Crunchy Thin Crust, and Gluten-Free Crust.
Domino's Pizza (NYSE: DPZ) will participate in the 40th Annual Strategic Decisions Conference hosted by Bernstein. The event will feature a fireside chat with CEO Russell Weiner, taking place on May 30, 2024, from 1:30 to 2:20 p.m. ET. Investors and stakeholders can view the live webcast through the provided link, and the event will be archived for future access. For further inquiries, contact Greg Lemenchick, Vice President of Investor Relations, at Greg.lemenchick@dominos.com.
Domino's Pizza (NYSE: DPZ) awarded the 2024 World's Fastest Pizza Maker title to Joana Mendes. Mendes, an assistant manager at Domino's in Ipswich, England, is the first woman to win this title, completing the task in a record-breaking 39.2 seconds. She received $5,000, a trophy, and a championship belt. The competition, held on May 8, 2024, at Mandalay Bay Resort in Las Vegas, required finalists to make three large pizzas under stringent quality criteria. The event highlights Domino's commitment to efficiency and quality. Mendes credits her win to extensive training and mentorship from Pali Grewal, a previous champion.
Domino's Pizza Announces Strong First Quarter 2024 Financial Results
Domino's Pizza, Inc. (NYSE: DPZ) reported solid first-quarter results, with global retail sales growth of 7.3%, U.S. same store sales growth of 5.6%, and international same store sales growth of 0.9%. The company experienced impressive income from operations growth, an 18.6% increase driven by strong U.S. comp performance and franchise store growth. Furthermore, net store growth was 164, contributing to a positive start for the year and demonstrating the success of their 'Hungry for MORE' strategy. Shares of common stock were repurchased and retired for a total of $25.0 million during the quarter, and the Company declared a $1.51 per share quarterly dividend.
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