Domino’s now has 21,000 restaurants around the world
The pizza chain didn’t close a single store in the US in Q3
Domino’s Pizza, Inc., just reported third quarter earnings, with US same-store sales rising 3.0%, slightly worse than expected, contributing to the company revising its forecast for sales growth this year. The company now expects global retail sales to grow 6% this year, down from 7%.
The news comes just two days after the company renewed its “Emergency Pizza” promotion to drive sales, where customers can get a free medium, two-topping pizza... if they place a qualifying order.
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The company also revealed that it now has 21,002 stores across the world, as it continues to build on its ambitious global growth plans or, as Domino’s calls it, the “Hungry for MORE” strategy. A substantial slice of those — some 33% — are in the US, with the rest spread across its 90 international markets. The new additions widen the gap to its nearest rival, Pizza Hut, which had fewer than 20,000 locations at the latest count.
Most of the store growth for Domino’s came from overseas: in Q3, the company’s international division opened 184 new stores and closed 136, for net growth of 48 stores. That feels pretty typical for most large chains. Some restaurants naturally close every quarter for a host of reasons (underperformance, franchisee change, etc.). What’s slightly odd is that — out of more than 6,900 restaurants in the US — Domino’s didn’t shut down a single store; it opened 24 with no closures. In the previous two quarters combined it closed only three stores, and in the previous year it closed only 10. Either the company is firing on literally all cylinders, or underperforming stores just don’t close down.
The takeaway? If a Domino’s opens up near you, chances are, it’s sticking around for a long time.
