Domino's new growth strategy targets additional 200 stores
Domino's UK and Ireland has announced a new strategy for the business centred on growth and accelerating its delivery business, with the target of an additional 200 stores.
In its preliminary results for the 52 weeks ended 27 December 2020, Domino's reported statutory post-tax profit of £39.7m, up from £2.8m, with system sales of £1.35b, up 11.4%.
UK online sales were up 23.9% and app sales were up 26.2%, with online sales now accounting for 94.3% of delivery sales in the UK. The group spent £9m to make its franchised sites Covid-secure.
Domino's also said it expects to deliver its medium-term ambition of total system sales of £1.6b-£1.9b.
Chief executive Dominic Paul said: "We have continued to invest and innovate across the business, launching exciting new products such as our vegan pizza and investing in technology, with our new app, in the supply chain and in marketing to further strengthen the brand.
"At the same time, we have been looking to the future, and today we are announcing a multi-year strategic plan which will drive growth across the business and deliver an exciting and profitable future for both our shareholders and our franchisees. In my first year with Domino's, it has been clear to me that we have a great platform to build from – a uniquely powerful brand, high digital participation and outstanding people and franchisees.
"Our new strategy will enable us to build upon our strengths in both delivery and collection and provide our customers even better quality and value, which will drive continued strong performance. We have maintained an open dialogue with our franchisees throughout the development of this plan and, while we do not have an agreement yet, we have made an attractive offer to them, which we believe will deliver powerful benefits to both them and the group."
