Domino's Pizza, Inc. reported a solid financial performance for the fiscal year ending December 29, 2024, with total revenues reaching $4.71 billion, a 5.1% increase from $4.48 billion in the previous year. The company's net income also rose to $584.2 million, up from $519.1 million in 2023, reflecting a 12.4% increase. This growth was driven by higher supply chain revenues, increased franchise royalties, and a rise in advertising contributions, alongside a notable improvement in gross margins.
The company experienced significant operational changes, including the opening of 775 new stores globally, with 160 in the U.S. and 615 internationally. Same-store sales increased by 3.2% in the U.S. and 1.6% internationally, excluding foreign currency impacts. The U.S. stores segment generated $1.54 billion in revenue, while the supply chain segment accounted for $2.85 billion, highlighting the importance of both segments in driving overall growth. The company also reported a 39.3% gross margin, an increase from 38.6% in the previous year, attributed to improved procurement productivity and higher order volumes.
Domino's strategic initiatives included a focus on technological advancements and product innovation, which contributed to customer engagement and sales growth. The company launched new menu items, such as 5-Cheese Mac & Cheese and New York Style Pizza, and continued to enhance its digital ordering platforms, which accounted for over 85% of U.S. retail sales. Additionally, the company maintained a strong relationship with its franchisees, with approximately 99% of its stores operated by independent franchisees, which is a key aspect of its business model.
Looking ahead, Domino's remains optimistic about its growth trajectory, emphasizing its "Hungry for MORE" strategy aimed at increasing sales, store count, and profitability. The company plans to continue expanding its presence in existing markets while exploring new opportunities. However, it also faces challenges, including rising food and labor costs, which could impact profitability. The company has indicated that it will monitor these factors closely and adjust its strategies as necessary to maintain its competitive position in the market.
About DOMINOS PIZZA INC
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