Domino’s Pizza announces FY23 Half Year results; Global food sales were down by 4.0%

On 22 February 2023, Domino’s Pizza Enterprises Limited (ASX: DMP) announced FY23 half year results, showing:

• Domino's Pizza Enterprises Ltd aims to increase its same store sales and earnings in the second half by providing more options and better value for its customers.
• In the last three years, the company has expanded its network by adding 1,140 new stores in three new markets.
• In its latest report, Domino's stated that global food sales were down by 4.0%, although excluding the foreign exchange effect, they increased by 1.2%. Same Store Sales (SSS) also decreased by 0.6%. The company's earnings were 21.3% lower at AU$113.9 million.
• Despite this, EBIT rose by 5.2% to AU $63.4 million, and network sales were only marginally lower at 0.3% on Network sales of AU $687.3 million. In the current half-year, the company opened 23 new stores compared to 23 in the previous fiscal year.
• Sales in Asia increased by 3.0% in constant currency, following the lifting of the State of Emergency in the comparable period.

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