Domino’s: Announces Q3-2023 Financial Results

Ann Arbor / MG. (dp) Domino’s Pizza Inc., the largest pizza company in the world, announced its third quarter 2023 results. Global retail sales grew 4.9 percent in the third quarter of 2023, excluding the positive impact of foreign currency, and grew 5.1 percent in the third quarter of 2023, excluding the positive impact of foreign currency and the closure of the Russia market. Without adjusting for the impact of foreign currency, but excluding the closure of the Russia market, global retail sales grew 5.3 percent in Q3-2023.

U.S. same store sales declined 0.6 percent during the third quarter of 2023. International same store sales (excluding foreign currency impact) grew 3.3 percent during the third quarter of 2023. Diluted EPS for the third quarter of 2023 was USD 4.18, an increase of 49.8 percent over the prior year quarter.

The Company had third quarter global net store decline of 8 stores, comprised of 27 net U.S. store openings and 35 net international store closures. The Company had 218 gross store openings and 226 gross store closures during the third quarter of 2023. Global and international net store decline reflects the closure of the remaining 143 net Domino’s stores in Russia. Excluding the impact of the closure of the Russia market, the Company had third quarter global net store growth of 135 stores, comprised of 27 net U.S. store openings and 108 net international store openings.

During the third quarter of 2023, the Company’s master franchisee that owned and operated «Domino’s Pizza» stores in Russia announced its intent to file for bankruptcy with respect to the stores in that market, and, as a result, the Company has excluded the impact of the Russia market from its fiscal 2023 statistical measures, including net store growth, global retail sales growth and global retail sales growth, excluding foreign currency impact. The Company has not received any royalties and fees from the operations of the Russia market subsequent to the Russian invasion of Ukraine in February 2022.

Subsequent to the end of the third quarter of 2023, on October 10, 2023, the Company’s Board of Directors declared a USD 1.21 per share quarterly dividend on its outstanding common stock for shareholders of record as of December 15, 2023, to be paid on December 29, 2023. The Company will host its Investor Day on December 07, 2023 at the Company’s headquarters in Ann Arbor, Michigan.

Chief Executive Officer Russell Weiner: «We continue to execute on our initiatives to drive sustainable growth in the U.S. Our «Summer of Service» initiative and the hard work of our franchisees and team members have brought delivery times back to pre-pandemic levels. Domino’s Rewards is engaging more customers, and our integration with Uber’s marketplace is on track. We are ready and excited to deliver the incremental orders both programs will bring in 2024 and beyond.»

For additional information please read the company’s PDF file below (225 KB):

20231014-DOMINOS-Q3-2023.