WASHINGTON (dpa-AFX) - Domino's Pizza Group Plc (DOM.L, DPZ) on Monday reported like-for-like sales growth of 2.7 percent for the first-nine week period of the fourth quarter, with total order up 5.3 percent, and said it continues to trade in line with its expectations.
The UK has significantly increased the cost of labor for both Domino's Pizza and its franchise partners. The Group now believes that the annual impact of this hike on the company will be around 3 million pounds per year from 2025 onwards.
The company noted that an additional 4 million pounds to 5 million pounds per annum will be invested in the cost to boost its technology platform, cyber security, supply chain capacity, and others.
Domino's Pizza also announced a new five-year framework with its franchise partners to capitalize its long-term growth opportunity.
This will support its targets of in excess of 1,600 stores delivering 2 billion pounds of systems sales by 2028 and 2,000 stores delivering 2.5 billion pounds of system sales by 2033 driving profit growth across the system.
This new Profitability and Growth Framework or PGF will commence on January 3, 2025, following the conclusion of the existing MoU on January 2, 2025.
The PGF aligns the company and franchisees through shared investment in marketing, technology and creates a framework of incentives to drive new store openings.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
