Domino’s Pizza believes it will exceed its target of opening 1,000 stores in the UK and Ireland during the next decade, after delivering another set of strong results.
System sales – sales from all stores in the UK and Ireland – in the year to 28 December 2008 increased 18.4% to £350.8m (£296.3m), as cash strapped consumers increasingly ordered takeaways rather than eat out.
Like-for-like sales at the company’s 450 mature stores (those opened before 2007) were 10% higher, a slight fall on like-for-like sales growth of 14.7% in the 2007 financial year.
However, e-commerce sales continued their phenomenal growth, up 73.7% to £55.9m in the year and represent nearly a quarter of delivered sales. This helped Domino’s pre-tax profit increase 24.7% to £23.4m (2007: £18.7m).
The company opened 52 new stores in 2008 and at the year-end had 553 Domino’s operating in the UK and Ireland.
Chris Moore, chief executive of Domino’s, said: “I am delighted to report another excellent set of results this year, which reflects great momentum in the business with like-for-like sales growth of 10%, building on the very strong performance in 2007.
“We have had an exceptional start to 2009, with like-for-like sales for the first six weeks up to 15%.”
Domino’s plans to open another 50 new stores this year and said it was well on its way to exceeding its 1,000 store target.
Papa John’s looks to grow as consumers opt for recession-friendly pizza>>
Domino’s expects 2008 performance to exceed expectations after sales surge>>
Domino’s maintains sales momentum helped by poor UK summer>>
London restaurant launches pregnancy pizza menu>>
By Chris Druce
E-mail your comments to Chris Druce here.
|
|
Newsletters
For the latest hospitality news, sign up for our e-mail newsletters. | |