Share this article

Domino’s Pizza has reported mixed results in the second quarter of 2022, as the Michigan-based restaurant chain struggled with a labour crunch and higher costs.

The company’s global retail sales fell 3% in the quarter, without adjusting for the impact of foreign currency.

International same-store sales (excluding foreign currency impact) declined 2.2% during the quarter, while same-store sales in the US fell 2.9% in the same period.

The pizza restaurant chain’s revenue totalled $1.06bn in Q2 2022, up 3.2% from the recorded $1.03bn in the same period a year ago.

The increase was primarily attributed to higher supply chain revenues.

Domino’s Pizza’s income from operations in the quarter fell 6.7% on a year-over-year (Y-o-Y) basis to $178.1m, due to lower US company-owned store and supply chain gross margins.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The company’s quarterly net income also decreased $14.1m, from $116.6m recorded in Q2 2021 to $102.4m in Q2 2022.

Quarterly diluted earnings per share (EPS) fell from $3.06 to $2.82 Y-o-Y.

Domino’s CEO Russell Weiner said: “Our results for the quarter faced challenges consistent to those I outlined back in April. We continued to navigate a difficult labour market, especially for delivery drivers, in addition to inflationary pressures combined with Covid and stimulus-fuelled sales comps from the prior two years in the US.

“However, the strength of our franchisees and team members, along with the strategies we are putting into place, make me confident we are on a path to overcome these short-term obstacles and make the Domino’s brand and business stronger than ever.”

In the second quarter, Domino’s Pizza had a net global store growth of 233 stores, including 22 in the US.