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Fast food pizza giant Domino’s says the coronavirus pandemic has accelerated its online ordering and delivery services. Picture: Adam Head Source: News Corp Australia
Fast food giant Domino’s has achieved a record monetary result, the coronavirus pandemic has boosted its online ordering and delivery services, and global pizza sales reached more than $3 billion for the first time.
The Queensland-based franchisee, the largest outdoor chain in the United States, reported a net revenue stream of $138.4 million for the 12 months ended June 30, an increase of 19.4% from fiscal year 2019.
Total network sales increased 12.8% to $3.27 billion, while online sales increased 21.4% to $2.36 billion.
Domino’s chief executive, Don Meij, said the company was able to capitalize on the increased demand for online orders during the pandemic, implementing contactless delivery to minimize the risk of virus spread.
“Customers need high-quality food, delivered quickly and ordered online at an affordable price; COVID-19 has not replaced that dynamic,” he said.
“We wouldn’t have served our communities without our team, the footprint of the workshop we built, and the investments we made on an online ordering platform that treated record traffic.”
The Queensland-based company reported a net source of revenue of $138.4 million for the 12 months ended June 30. Photo: Darren England / AAPSource: AAP
Domino’s Japanese business recorded the most powerful expansion in 18.4% same-store sales, added 75 new retail outlets in fiscal 2020, and is expected to exceed the number of Australian retail outlets this semester.
The expansion of sales in the same stores in Australia/New Zealand is 5.1%, while in Europe, where 78 new retail outlets were added, it was more moderate to 2.8%.
Social restrictions vary across Europe, with outlets in France temporarily final while sales increase in Germany.
Meij said the company intends to do business by investing in more marketing, staffing and generation and opening more outlets as uncertainty about the pandemic persists.
He said the company was confident it would succeed in its long-term target of 5,500 outlets through 2033.
“In ordinary times, I would be extremely happy with double-digit sales in the same stores and network sales at 20 percent. But those are not times,” Meij said.
“While I am very satisfied with our functionality so far, the nature of COVID-19 is that we know that governments may require a restriction of transitority or market closure in the very short term.
Domino’s will pay a final dividend of 52.6 cents consistent with the stock.
The company’s shares rose more than 8% to $83.16 in intraday operations, surpassing its 2016 record.