Food for thought at Domino's

08-01-2008

Food for thought at Domino's
Pizza delivery group Domino's has called 2007 a "tremendous year" for the company, giving analysts food for thought over the country's economic outlook.

Takeaway food companies are often seen as a barometer for consumer confidence, with experts suggesting customers refrain from using such firms in times of fiscal prudence.

But Domino's appears to show no signs of a tightening of its customers' wallets, announcing total like-for-like sales growth of 17.6 per cent for the six weeks to December 30th last year.

Across the whole of 2007, the company said like-for-like sales increased by 14.7 per cent, compared to 9.7 per cent a year earlier.

It also opened 50 new stores, four more than in 2006 and in line with company targets, passing its 500th store milestone in the process. None of the 501 stores were closed, whereas two shut down a year earlier.

Domino's said that online sales have increased by 102 per cent in the UK and Ireland in the six weeks up to the end of December and went up by 60.5 per cent for the year as a whole.

Newly-appointed chief executive Chris Moore said: "Last year was a tremendous year for Domino's Pizza in the UK and Ireland.

"Our strong sales performance was fuelled by the strong marketing of truly innovative new products, continual improvement in customer service times which we know directly impact on propensity to re-order and the superior quality of our product."

He said he was "excited" by pushing the company towards a target of 1,000 stores in 2008 and predicted full-year 2007 profits ahead of market expectations.

Domino's releases its preliminary 2007 figures on February 19th.

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