Taste for Domino’s Pizza appears to be going global.
The pizza delivery giant on Tuesday reported serious global momentum over the past year in sales, income and most impressively, in its sheer number of new stores. Domino’s opened roughly ten times as many stores outside the U.S. as inside the U.S. last year, the company reported.
The pizza kingpin opened 573 stores internationally in 2013 vs. 58 stores in the U.S. Domino’s said its fiscal fourth-quarter net income increased 19%, led by continued strength abroad.
“Consumers worldwide are redefining convenience,” said CEO J. Patrick Doyle, in a statement. “We are meeting their evolving needs by redefining convenience.”
Pizza is all about image, convenience price and taste. Domino’s has made a remarkable turnaround in recent years since changing its pizza formula. But with growth opportunities somewhat limited in the U.S., the chain increasing is reaching overseas for growth.
For the period ended Dec. 29, the pizza chain earned $44.7 million, or 78 cents per share. That’s up from $37.6 million, or 64 cents per share, a year ago.
Revenue climbed 5% to $566.5 million from $539.7 million. Wall Street expected $564.1 million in revenue.
Sales at locations in the U.S. open at least a year rose 3.7%. Internationally, the figure increased 7%.
This metric is a key indicator of a restaurant operator’s health. It excludes results from locations recently opened or closed.
Full-year net income increased to $143 million, or $2.48 per share, from $112.4 million, or $1.91 per share, in the previous year. Annual revenue rose 7 percent to $1.8 billion from $1.68 billion.
Sales at restaurants in the U.S. open at least a year climbed 5.4 percent. The metric rose 6.2 percent overseas.
Shares of Domino’s were down 0.7% to $74.19 in morning trading.
Courtesy of USA Today