Domino’s Pizza has posted a range of impressive financial results, despite the ongoing challenges of the global pandemic in Q1 2023, demonstrating the group’s overall resilience.
Net Revenue
Domino’s net revenue increased by 15.8% to reach $1.3 billion. A key contributor to this impressive growth was the +18.1% increase in same-store sales which demonstrates retention and growth of the customer base.
Operating Margin
In terms of operating margin, the FY2023 results saw a 37.5% increase – a level almost 6% higher than the same period for FY2022. This exceptional performance was largely a result of the solid digital sales growth, both in takeaway and delivery, resulting from the shift around global habits and lifestyles.
Positive Outlook
Overall, the performance of the company is extremely encouraging under the current conditions. Unaudited full year outlook supports the strength of the 2023 financial results, predicting a net revenue of more than $5.6 billion for the full year. Further indications of the overall financial resilience of the group include the confirmation of a 2.5% increase in the total number of stores, and a 30.5% increase in online sales.
Domino’s has certainly demonstrated its capacity to successfully navigate even the most difficult of circumstances. The company’s focus on technological advancement has been identified as a key factor in the positive growth and overall success seen in this latest set of financial results.
Future Plans
Looking ahead, the continued growth of the digital ordering system is set to remain a priority for the company. Domino’s has also identified international expansion as a key goal for the future, to further cement its place among the leading international chains.
Key Takeaways
- Domino’s has reported a 15.8% increase in net revenue in Q1 2023.
- The company’s operating margin has seen a 37.5% increase.
- Unaudited forecasts predict full year net revenue of more than $5.6 billion.
- Digital ordering and international expansion remain at the top of the agenda.
Domino’s Pizza has achieved strong financial success in a challenging year. The company can expect to continue its growth trajectory as it pushes through its plans for further global success.
