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Domino's Pizza serves up Q1 sales jump thanks to strong New Year performance
(WebFG News) - Domino's Pizza reported an 18.3% jump in first-quarter sales on Thursday, thanks in part to a strong New Year performance.
In the 13 weeks to 1 April 2018, group system sales rose to £311.1m from £263m, with international sales up 17.6% to £25.6m.
In the UK and Ireland, sales rose 10.4% to £285.5m, with new store openings and like-for-like performance contributing strongly. Like-for-like sales were up 7% in the UK and 3.5% in Ireland. Numis said UK LFL growth was ahead of its 5.5% estimate.
Domino's said the hit from severe weather in March was offset by a strong New Year performance and the timing of Easter.
The company opened nine stores in the UK during the quarter and said it remains on course to open 65 to 75 UK stores this year. In addition, Domino's GPS tool - which allows customers to track their orders - is now live in 541 stores.
Chief executive officer David Wild said: "The year has started well, with continued good growth in all of our markets. In the UK, customers are responding very positively to our clearer value proposition, with strong scores for value for money and overall satisfaction. We have also made excellent operational progress, with the rapid roll-out of GPS continuing.
"I am encouraged by our international operations, which are gaining scale as more customers grow to love our great tasting pizzas."
At 0935 BST, the shares were up 2.9% to 356p.