Domino’s Identical-Retailer Gross sales Up 3.6% in 1st Quarter of 2023
U.S. same-store gross sales for Domino’s grew 3.6% throughout the first quarter of 2023, and the chain noticed a internet acquire of twenty-two shops, in response to its newest quarterly report.
Domino’s noticed revenues climb by $13.2 million, or 1.3%, within the first quarter of 2023 in comparison with the identical quarter in 2022. The rise was “primarily attributable to greater provide chain revenues attributable to will increase in market basket pricing to shops,” the corporate mentioned. The This autumn refranchising of 114 U.S. company-owned shops in Arizona and Utah additionally led to elevated royalties and charges and franchise promoting. Domino’s additionally reported a better common ticket per transaction due largely to will increase in menu and nationwide provide pricing.
The chain presently has a complete of 6,708 shops nationwide.
In an announcement, Domino’s CEO Russell Weiner mentioned he’s “inspired by the resilience of our enterprise mannequin and the aggressive benefit our franchisees and crew members convey to Domino’s Pizza.”
“We grew by doing what we mentioned we had been going to do: drive worth and step up our tempo of innovation,” Weiner added. “Our continued evolution from a U.S. supply enterprise to a worldwide pizza firm with power in each supply and carryout retains me bullish on our future.”
The chain seems to be within the midst of a modest rebound after two consecutive quarters of same-store gross sales declines in 2022—3.6% in final yr’s first quarter and a pair of.9% within the second quarter. The third quarter of 2022 introduced some aid, as same-store gross sales elevated by 2%, adopted by a 0.9% enhance within the fourth quarter.
This yr’s first-quarter same-store gross sales beat Wall Road estimates, in response to Reuters, because of greater costs and new promotional presents. For example of the latter, the chain supplied a 50% March Insanity-related low cost on all menu-priced pizzas from March 20-26. For the Tremendous Bowl, Domino’s additionally launched its new Loaded Tots in Philly Cheesesteak, Cheddar Bacon and Melty 3-Cheese flavors.
Identified for many years as a pizza supply chief, the corporate is now focusing extra on carryout as demand for supply wanes. Earlier this month, Domino’s unveiled new ordering choices through its iOS app on Apple CarPlay—“Faucet to Order” and “Name to Order”—each geared toward carryout prospects trying to keep away from lengthy drive-thru strains.