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Domino’s records 18 million orders for the first quarter of 2023
The group also announced a new £20m share buyback
Domino's Pizza Group PLC reported like-for-like system sales increasing by 10.7% driven by record first quarter (Q1) orders and click-and-collect.
Total Q1 23 orders grew 2.8% to 18 million. The UK franchisor of Domino’s said this was despite a strong comparative quarter, where orders grew 5.5% in Q1 2022 driven by the recovery of collections post-COVID-19 restrictions in Q1 2021.
Collections grew by 23% in Q1. The new store pipeline is now c.75% larger than the comparable pipeline in FY2022, more than 30 different franchisees have stores in development. The group also reports gain in UK takeaway market share, 7.8% in Q1 2023, up from 6.4% in Q1 2022.
The group has also announced a new £20m share buyback programme, effective immediately.
