More stores for Domino’s after positive FY21 sales
New store openings are expected to increase to 9% to 12% per year.
Domino’s Pizza Enterprises is increasingly optimistic about its expansion plans as it experiences growth amid the lingering effects of the pandemic.
Total sales for the ASX-listed firm’s 2021 financial year jumped 14.6% to $3.7 billion, with earnings rising 30% to $188 million.
New store openings are expected to increase to 9% to 12% per year, up from the company’s 7% to 9% range. It also opened 285 new restaurants during the year, increasing the number of outlets by 10.7%. A majority of these stores came from its Japan business, setting a record of 126 new stores – the first time one of their markets surpassed 100 stores in a calendar year.
“Stores in each market are responding to local conditions – societal restrictions remain in place in most markets, which continue to affect carry-out sales while delivery orders remain strong,” said group CEO Don Meij.
“We recognise our business is privileged to continue to serve our communities during this time. For our team to lift their efforts to serve more customers (particularly through delivery) and to open a record 285 stores, is a remarkable achievement that deserves recognition.”
Domino's Japan saw sales rise 30.9% to ¥77.5 billion through new customers and higher frequency, lifting EBIT 52.8% to ¥8.8 billion.
“COVID-19 brought new customers to trial our meals and service, but it is our team members that have earnt their trust and will keep them returning," said Domino's Japan president and CEO Josh Kilimnik.
