Q2 2024 Domino's Pizza Inc Earnings Call Transcript
Key Points
- Domino's Pizza Inc (DPZ) achieved positive order counts in both delivery and carryout segments across all income cohorts.
- The company reported a 7.2% growth in global retail sales, excluding the impact of foreign currency.
- Domino's Pizza Inc (DPZ) remains on track to achieve its guidance for annual global retail sales growth of 7% or more and operating profit growth of 8% or more.
- The new loyalty program has significantly increased active members and redemption rates, driving transactional growth.
- Domino's Pizza Inc (DPZ) has seen improvements in international comps, particularly in Europe, Asia, and the Middle East markets.
- Domino's Pizza Inc (DPZ) temporarily suspended its net store growth guidance due to challenges faced by its master franchisee, Domino's Pizza Enterprises (DPE).
- The company expects to fall below its net store growth target for international markets by approximately 175 to 275 stores in 2024.
- Higher carryout mix, which carries a lower ticket than delivery, partially offset the comp tailwinds.
- The company faced higher G&A expenses driven by labor costs and the worldwide rally expense.
- Domino's Pizza Inc (DPZ) did not repurchase any shares in the second quarter due to the volatility of the interest rate environment.
Thank you for standing by, and welcome to Domino's Pizza's second-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Greg Lemenchick, Vice President of Investor Relations. Please go ahead, sir.
'--
Good morning, everyone. Thank you for joining us today for our second quarter conference call. Today's call will begin with our Chief Executive Officer, Russell Wiener. Followed by our Chief Financial Officer, Sandeep Reddy.
The call will conclude with a Q&A session. The forward-looking statements in this morning's earnings release and 10-Q, both of which are available on our IR website, also apply to our comments on the call today. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our filings with the SEC.
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