Domino’s sees 1%-2% international same-store sales growth for 2024 and 2025

On the company’s Q3 earnings conference call, Russell John Weiner, CEO of Domino’s Pizza, stated, according to a transcript: “Now I’d like to talk about our international business. Retail sales were up 6.5% to the first three quarters of this year. While that growth is in line with the global pizza category it is not in line with our expectations nor our historic — today we are going to talk about the impact of the international sales growth in the past decade through 2023. While we remain on track for a remarkable 31st-rate year of international sales growth, the impact of macroeconomic pressures, geopolitical issues, and the other performance we are experiencing is creating a drag on our international sales. Given this performance, we believe planning for approximately 1% to 2% same-store sales growth for 2024 and 2025 is a more realistic expectation before we return the business to a more normalized level in 2026. As you know, our international business, which is approximately half our global retail sales, represents less than a third of our profits due to our asset light master franchising model.” CFO Sandeep Reddy stated later in the call: “Now, turning to our outlook, let me start off by saying that the long-term algorithm of what we believe the Domino’s Dominos business can and should achieve has not changed. We continue to expect that our algorithm of 7% or more annual global retail sales growth and operating profit growth of 8% or more is the right one, as we look out to 2026 to 2028. In evaluating our business in light of increased macro and competitive pressures over the last quarter, we now believe that our global retail sales growth will be approximately 6% in 2024.”