Domino’s launches £20m share buyback as app sales rise in Q1

Domino’s Pizza has activated a £20m share buyback programme after seeing like-for-like sales through its app increase by 10.7% in the first quarter, with order count increasing by 2.8% to 18 million. 

The news comes as the group’s new app has increased its active customers by 27% to roughly 6.8 million users compared with the same period last year. App orders made up 64% of online orders this quarter compared with just 48.5% in the first quarter of 2022. 

However, while delivery orders are still down by 4.9% despite slight improvement on previous quarters, collection orders have increased by 23%. 

The group’s UK takeaway market share also increased by 7.8% in the first quarter, an increase from 6.4% in the same period last year. 

In addition, Domino’s opened 15 new stores to date compared with just nine in the same period in FY22. The group’s new store pipeline is now roughly 75% larger than its old pipeline, with more than 30 franchisees having stores in development. 

Elias Diaz Sese, interim CEO of Domino’s, said: “We have delivered record first quarter sales and orders thanks to the immense hard work of our franchise partners and colleagues in executing our strategy and our relentless focus on giving customers the best possible quality, value and service. 

“We continue to be excited about the many opportunities we see for Domino’s in 2023 and beyond as we continue to work towards our purpose of delivering a better future through food people love.”