Domino's Pizza® Announces Fourth Quarter and Fiscal 2024 Financial Results

Core Insights - Domino's Pizza, Inc. reported a global retail sales growth of 4.4% for the fourth quarter and 5.9% for fiscal 2024, indicating strong performance despite macroeconomic challenges [1][4] - The company achieved a U.S. same store sales growth of 0.4% for the fourth quarter and 3.2% for fiscal 2024, while international same store sales growth was 2.7% for the fourth quarter and 1.6% for fiscal 2024 [1][4] - The Board of Directors approved a 15% increase in the quarterly dividend to $1.74 per share, reflecting confidence in the company's financial health [1][8] Financial Performance - Total revenues for the fourth quarter of 2024 were $1,443.9 million, a 2.9% increase from $1,403.0 million in the fourth quarter of 2023 [6][29] - Net income for the fourth quarter increased by 7.7% to $169.4 million compared to $157.3 million in the same quarter of the previous year [6][12] - Diluted earnings per share rose to $4.89, a 9.2% increase from $4.48 in the fourth quarter of 2023 [6][12] Operational Highlights - The company experienced a global net store growth of 364 stores in the fourth quarter and 775 stores for fiscal 2024 [1][4] - U.S. Company-owned store gross margin improved to 15.5% in the fourth quarter, up from 14.7% in the previous year [6][29] - Supply chain gross margin increased to 11.3% in the fourth quarter, compared to 10.9% in the same period last year [6][29] Strategic Initiatives - The CEO emphasized the effectiveness of the "Hungry for MORE" strategy, which has driven strong order count growth and market share in the QSR Pizza segment [2] - The company has successfully navigated challenges in the international market, achieving its 31st consecutive year of same store sales growth [2] - Domino's continues to leverage digital channels, with over 85% of U.S. retail sales generated through these platforms in 2024 [24] Shareholder Returns - The company repurchased 258,568 shares for $112.0 million in the fourth quarter and 758,242 shares for $327.0 million during fiscal 2024 [9] - As of December 29, 2024, Domino's had a remaining authorized amount for share repurchases of $814.3 million [9]