Domino’s reported its 2024 Q4 earnings Monday morning. The reporting also looked back at the brand’s full 2024 performance. The biggest takeaway: Domino’s posted same-store sales results that fell short of the numbers Wall Street had predicted. The Q4 results checked in at a 0.4% increase versus the 1.72% increase experts had projected.
The brand’s stock price slid about 6% Monday morning before correcting itself. By Monday afternoon, the stock had only dipped 2.6% from its Friday closing price of $462.15 per share.
Despite the ostensible bad news, the pizza giant’s earnings call left CEO Russell Weiner feeling bullish. In a post on LinkedIn, Weiner highlighted the brand’s “Hungry for MORE” strategy, launched in April 2024 in order to stimulate growth, as having produced some major wins. In particular, Weiner highlighted the brand’s 5.3% retail sales growth in 2024, as well as its 8% “operating profit growth target.”
Related: Largest Domino’s Franchisee to Shutter 200 More Stores Overseas
“In 2024, it’s clear that our industry faced some stiff headwinds, but at Domino’s, we created our own tailwinds with best-in-class initiatives from marketing and operations to insights and technology,” Weiner said on LinkedIn. “Thanks to the efforts of our team members and franchisees, we delivered strong results demonstrating the power of our Hungry for MORE strategy.”
Weiner went on to illustrate how Domino’s had performed specifically in the U.S., where he said the brand had gained 1% of the quick-service pizza market share in 2024. The brand also posted 1.6% same-store sales growth internationally and notched its 31st consecutive year of same-store sales growth.
One interesting note buried in the Domino’s update: The brand’s in-store pickup orders increased 3.2%, while delivery orders fell 1.4%. As first reported by Yahoo! News, CFO Sandeep Reddy credited that rise in carryout—and decline in delivery—to the tightening economic climate.
“[Those numbers were] impacted by continued macro and competitive pressures that put pressure on our low-income customers,” Reddy said.
