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Domino's on target to exceed 1,000 stores

17 February 2009 by
Domino's on target to exceed 1,000 stores

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.

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.

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By Chris Druce

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