Domino’s Pizza(DPZ.US) Q1 2024 Earnings Conference

The following is a summary of the Domino’s Pizza, Inc. (DPZ) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Domino’s reported a global retail sales growth of 7.3%, excluding foreign currency impact.
  • There was a 7.8% increase in U.S. retail sales, and a 6.8% growth in international retail sales, excluding foreign currency.
  • The company’s same-store sales saw a significant increase in the U.S. by 5.6% and abroad by 0.9%, excluding foreign currency impact.
  • New store additions included 20 in the U.S. and 144 internationally.
  • An increase of 19.4% in operating income was noted in Q1, considering the exclusion of foreign currency’s negative impact.

Business Progress:

  • Domino’s introduced their New York Style pizza in Q1 2024 and rolled out a series of product training sprints across 6,800 plus U.S. stores.
  • Initiatives like ‘Emergency Pizza’, Carryout Special Boost Week, and a new loyalty program, Domino’s Rewards, significantly contributed to increasing U.S. same-store sales.
  • The company’s partnership with Uber Eats is predicted to grow, currently contributing 1.4% of sales mix.
  • Implementations of newer strategies like ‘smart pricing’ and modifications in their loyalty program have resulted in positive customer response and encouraged franchisees to open up more stores.
  • The company plans to improve order growth and profitability through operational focus on consistency and quality, attract more customers with the permanent introduction of their New York Style pizza, and target a higher operating income of $170,000 or more for the year.

Domino’s Pizza, Inc. (NYSE:DPZ) Q1 2024 Earnings Conference Call April 29, 2024 8:30 AM ET

Company Participants

Greg Lemenchick – Vice President of Investor Relations
Russell Weiner – Chief Executive Officer
Sandeep Reddy – Chief Financial Officer

Conference Call Participants

Andrew Charles – TD Cowen
Dennis Geiger – UBS
Brian Bittner – Oppenheimer
Sara Senatore – Bank of America
David Palmer – Evercore ISI
Lauren Silberman – Deutsche Bank
Danilo Gargiulo – Bernstein
Gregory Francfort – Guggenheim
John Ivankoe – JPMorgan
Chris O’Cull – Stifel
Andrew Strelzik – BMO Capital Markets
David Tarantino – Baird
Brian Harbour – Morgan Stanley
Peter Saleh – BTIG
Jon Tower – Citi
Jeffrey Bernstein – Barclays
Meredith Jensen – HSBC
Alex Slagle – Jefferies
Jim Salera – Stephens

Operator

Thank you for standing by, and welcome to Domino’s Pizza’s First Quarter 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder, today’s program is being recorded.

And now, I’d like to introduce your host for today’s program, Mr. Greg Lemenchick, Vice President of Investor Relations. Please go ahead, sir.

Greg Lemenchick

Good morning, everyone. Thank you for joining us today for our first quarter conference call.

Today’s call will begin with our Chief Executive Officer, Russell Weiner, followed by our Chief Financial Officer, Sandeep Reddy. The call will conclude with a Q&A session.

The forward-looking statements in this morning’s earnings release and 10-Q, both of which are available on our IR website, also apply to our comments on the call today. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our filings with the SEC.

In addition, please refer to the 8-K earnings release to

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