Domino's (DPZ) Opens 17,000th Store, Expands In Australia
Zacks Investment Research | Mar 02, 2020 09:13PM ET
Domino's Pizza, Inc. (NYSE:DPZ) achieved a major milestone by the opening of its 17,000th store. The new store is located in Bradbury, New South Wales, Australia.
Since Domino’s generates a chunk of its revenues from outside the United States, the company continues to focus on expanding presence in high-growth international markets to boost business.
Don Meij, the Group CEO and Managing Director of Domino's Pizza Enterprises Ltd stated, "This store opening represents our commitment to international growth and development. We look forward to continuing our global growth momentum by opening even more stores closer to our customers and serving up high-quality food to local residents."
Solid International Expansion Bodes Well
Domino’s international growth continues to be strong and diversified across markets, courtesy of exceptional unit level economics. During the fourth quarter, the company opened new stores in Bangladesh, the Czech Republic and Luxembourg. Moreover, Domino’s inaugurated 492 global net store openings during the fourth quarter and 856 net new international stores in 2019. Notably, the fourth quarter marked the 104th consecutive quarter of positive same-store sales in the company’s international business.
Apart from the established markets such as Canada, Japan, Italy, the U.K., Ireland, Switzerland and South Korea, emerging markets like Brazil, China, India, Indonesia and Turkey have been posting solid growth. Australia, Russia, Mexico, Germany, Spain, New Zealand and Saudi Arabia are also gaining momentum. In fact, Domino’s India is one of the fastest growing operations in its global system. Additionally, the company’s entry into Slovakia and Malta is proof of its ever-expanding base.
Backed by an expanding global brand presence, shares of Domino’s have surged 39.8% in the past year compared with the Original post
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