Domino’s Hits Another Homer With Q4 Results
Yes, we’ve covered Domino’s a lot in recent months, but we’re not alone in watching this Ann Arbor, Michigan-based giant as it continues marching toward dominating the franchised pizza category. As reported in its Q4 2016 financial results, Domino’s Pizza grew domestic same-store sales 12.2% during the quarter, while international sales shot up 4.3%. It also opened a record 1,281 stores during the year, which includes 171 net new domestic locations. All told, the fourth quarter marked 92 consecutive quarters (23 years) of positive international same-store sales growth and 23 consecutive quarters of positive sales growth here in the U.S.
“I’m extremely proud of our franchisees and operators worldwide, including those who contributed toward back-to-back years of double digit sales growth in the U.S.,” said President and CEO J. Patrick Doyle. “While these unprecedented results speak for themselves, I am most pleased with the passion and energy we demonstrated throughout 2016 in meeting the challenge of sustained success. The momentum and alignment within our system has never been stronger.”
During the quarter, Domino’s revenues increased 10.6% versus the prior year period, which it attributed to higher supply chain volumes and higher company-owned store, domestic franchise and international franchise revenues resulting from increased same-store sales and store count growth.
As part of its three- to five-year outlook released in January, Domino’s predicts 3-6% domestic and international same-store sales growth, 6-8% net unit growth and 8-12% global retail sales growth. If these predictions come to pass, it will continue the company’s incredible winning streak of rising sales, new locations and solid investor returns.