Domino's Q2 2024 Earnings Report
Key Takeaways
Domino's Pizza, Inc. announced positive results for the second quarter of 2024, driven by its 'Hungry for MORE' strategy. Global retail sales growth (excluding foreign currency impact) was 7.2%. U.S. same store sales growth was 4.8%, and international same store sales growth (excluding foreign currency impact) was 2.1%. The company achieved global net store growth of 175.
Global retail sales growth (excluding foreign currency impact) increased by 7.2%.
U.S. same store sales grew by 4.8%.
International same store sales growth (excluding foreign currency impact) was up 2.1%.
Global net store growth reached 175.
Domino's
Domino's
Domino's Revenue by Segment
Forward Guidance
The Company continues to expect the following guidance metrics. Annual global retail sales growth and annual income from operations growth exclude the impact of foreign currency.
Positive Outlook
- 7%+ Annual global retail sales growth
- 8%+ Annual income from operations growth
- Global net store growth of 825 to 925 in 2024
- U.S.: The Company continues to expect 175+ net stores annually for 2024 to 2028
Challenges Ahead
- International: The Company expects it will fall 175 to 275 stores below its 2024 goal of 925+ net stores in international primarily as a result of challenges in both openings and closures being faced by Domino’s Pizza Enterprises (“DPE”), one of its master franchisees.
- The Company is partnering closely with DPE as they work through this process and will provide further updates once it has more visibility into the effect on its annual global net store growth numbers.
- The Company is temporarily suspending its guidance metric of 1,100+ global net stores until the full effect of DPE’s store opens and closures on international net store growth are known.
Revenue & Expenses
Visualization of income flow from segment revenue to net income