Domino’s backs guidance as sales rise 3.7% in Q3
The group saw that Q3 collection orders continued to grow by 8.4%. This came with a 6.3% downturn in delivery orders due to ‘softer demand’
Domino’s expects FY23 underlying EBITDA to be in the range of £132m to £138m, as like-for-like group sales increased 3.7% during Q3 and the pizza chain had a “good” start to Q4.
Across the entire group, Q3 sales increased 5.5%, which the company has attributed to its acceleration in new store openings. By the end of FY23, Domino’s expects to open at least 60 new stores.
While year-to-date total orders increased 1.5%, total orders decreased 1.2% to 16.7 million during the quarter.
However, the group saw that Q3 collection orders continued to grow by 8.4%. This came with a 6.3% downturn in delivery orders due to “softer demand”.
Domino’s total orders have also returned to growth in Q4 by 1.2% with an improved trajectory in delivery orders, despite a tough comparison with the strong prior year performance.
Meanwhile, its 2024 pipeline of new stores continues to grow, with over 45 stores now in development compared with only 23 stores in August of this year.
Andrew Rennie, CEO of Domino’s, said: “Having been in the business for 100 days and spent that time travelling around the UK and Ireland visiting franchisees, suppliers and colleagues, I’m even more excited about the opportunities ahead for Domino’s and our outstanding franchisees.
“I look forward to providing an initial outline on these growth opportunities for the business on 11 December.”
