Domino’s Pizza Reports Strong Fourth Quarter and Fiscal 2024 Results
Domino’s Pizza, Inc., the world’s largest pizza company, recently announced its financial results for the fourth quarter and fiscal year 2024. The company reported a global retail sales growth of 4.4%, excluding foreign currency impact, for the fourth quarter, and a 5.9% growth for the entire fiscal year. In the U.S. market, same store sales growth was recorded at 0.4% for the fourth quarter and 3.2% for the fiscal year.
Global Retail Sales
The strong retail sales growth can be attributed to the company’s focus on digital channels and its robust international business. Domino’s continues to innovate and invest in technology, with digital sales accounting for over 70% of global sales in 2024. The company’s international business also contributed significantly to the growth, with a 2.7% same store sales growth (excluding foreign currency impact) in the fourth quarter and 1.6% growth for the fiscal year.
Net Store Growth
Domino’s opened a total of 364 new stores during the fourth quarter and 775 new stores throughout fiscal 2024. This strategic expansion has helped the company to broaden its customer base and increase sales.
Operational Income
Income from operations increased by 6.4% for the fourth quarter and 7.3% for the fiscal year, excluding the negative impacts of foreign currency exchange rates on international franchise royalty revenues. These impacts amounted to $0.2 million and $5.8 million, respectively. Adjusting for these impacts, income from operations grew by 6.5% and 8.0% for the fourth quarter and fiscal 2024, respectively.
Dividend Increase
The Board of Directors approved a 15% increase in the quarterly dividend to $1.74 per share, marking the 37th consecutive annual dividend increase.
Impact on Consumers
The strong financial performance of Domino’s Pizza may lead to several positive impacts for consumers. The company’s continued investment in technology and digital sales channels means that customers can enjoy a convenient ordering experience, faster delivery times, and a more personalized pizza ordering process. Additionally, the strategic expansion of the company may result in more Domino’s locations, making the brand more accessible to a wider audience.
Impact on the World
Domino’s Pizza’s strong financial results have significant implications for the global food industry. The company’s focus on digital sales and technology innovation sets a trend for other food chains to follow, as consumers increasingly prefer contactless ordering and delivery options. Additionally, the strategic expansion of Domino’s into new markets can contribute to the growth of the global pizza industry, creating new jobs and economic opportunities.
Conclusion
Domino’s Pizza’s strong fourth quarter and fiscal 2024 results demonstrate the company’s ongoing commitment to innovation, growth, and shareholder value. The company’s focus on digital sales and technology, strategic expansion, and strong operational performance position it well for continued success in the global food industry. For consumers, these results may lead to a more convenient and personalized pizza ordering experience, as well as increased accessibility to Domino’s locations. For the world, the company’s trends in digital sales and technology innovation may set a new standard for the food industry, while its strategic expansion can contribute to economic growth and job creation.
- Global retail sales growth of 4.4% for Q4 2024 and 5.9% for FY 2024
- U.S. same store sales growth of 0.4% for Q4 2024 and 3.2% for FY 2024
- International same store sales growth of 2.7% for Q4 2024 (excluding FX impact) and 1.6% for FY 2024 (excluding FX impact)
- Net store growth of 364 for Q4 2024 and 775 for FY 2024
- Income from operations increased 6.4% for Q4 2024, 7.3% for FY 2024 (excluding FX impact), and 6.5% and 8.0% when adjusting for FX impact
- Quarterly dividend increased 15% to $1.74 per share
- Positive impact on consumers through convenient ordering experience, faster delivery times, and increased accessibility to Domino’s locations
- Positive impact on the world through digital sales and technology trends, and strategic expansion contributing to economic growth and job creation
