India Delivers Growth For Domino’s Pizza

According to USA Today, “J. Patrick Doyle, new CEO of Domino’s Pizza, spent his first days on the job last week in India and Saudi Arabia.”

“On Thursday, he opened Domino’s (DPZ) 300th outlet in India and its 65th new location there this year, making India the fastest-growing market for the Ann Arbor, Mich.-based pizza-delivery chain. ‘In the next three to five years, our sales outside the U.S. will surpass our sales here,’ Doyle, 46, said in his first extensive interview since taking the reins from David Brandon. About 55% of Domino’s $5.6 billion in sales last year were in the United States. Doyle said there’s still room for growth in the U.S., but it will come from taking a larger share of a mature pizza market where mom-and-pop stores and small chains still deliver 50% of all sales. Overseas, Domino’s same-store sales have increased for 64 consecutive quarters, Doyle said, and the explosive growth shows no indications of tapering off. Unlike many new CEOs after the economic carnage of the past few years, Doyle takes over at a company doing well, in a smooth transition from his highly regarded predecessor. Brandon, Domino’s CEO for the past 11 years, took over two weeks ago as athletic director at the University of Michigan but remains on Domino’s board as non-executive chairman.”