Domino’s Pizza reported 168 gross store openings and 40 closures during the first quarter of 2023. Credit: Famartin / commons.wikimedia.org.

Domino’s Pizza has reported a net income of $104.8m for the first quarter (Q1) of 2023, an increase of nearly 15% compared with $90.96m a year ago.

The pizza chain’s total revenues for the quarter were $1.02bn while global retail sales grew 5.9%, excluding the negative impact of foreign currency.

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US same-store sales rose by 3.6% during the quarter while international same-store sales, excluding foreign currency impact, registered a growth of 1.2% during the period under review.

The company said that its income from operations during the quarter increased $12.9, or 7.9%, as compared to Q1 a year ago.

Diluted earnings per share (EPS) during Q1 was $2.93 versus $2.50 in the corresponding quarter of last year.

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During the quarter, Domino’s Pizza had global net store growth of 128 stores, consisting of 106 net international store openings and 22 net US store openings.

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The company reported 168 gross store openings and 40 closures during the first quarter of 2023.

Commenting on the performance, Domino’s CEO Russell Weiner said: “As I reflect on the first quarter, I can’t help but be encouraged by the resilience of our business model and the competitive advantage our franchisees and team members bring to Domino’s Pizza.

“We grew by doing what we said we were going to do: drive value and step up our pace of innovation. Our continued evolution from a US delivery business to a global pizza company with strength in both delivery and carryout keeps me bullish on our future.”

Furthermore, the pizza chain announced a $1.21 per share quarterly dividend for shareholders, which be paid at the end of June 2023.