Domino’s growth slows over start of FY19
At the business’s annual general meeting on Wednesday, Domino’s group chief executive Don Meij said that management was confident of the group’s potential moving forward, noting that 36 stores have opened across the group so far in FY19.
“You will see more stores opened when we report in February on our first half, but based on our current timelines, this will be less than half of the full year total of 225 to 250 stores,” Meij said.
The business reaffirmed its full year guidance, expecting a group EBIT of $227 million to $247 million and net CAPEX of $60 million to $70 million. It restated its goal of 4650 stores globally by 2025.
Looking forward, the business said it will be focusing further on customer- and store-focused technology in Australia, including the launch of a new website and mobile ordering app.
These renewed digital experiences will be designed to make the ordering experience, as well as store operations, more efficient and rewarding.
Though there are currently more than 800 Domino’s stores across Australia and New Zealand, Meij said that “hundreds” of new sites have been identified for expansion.
“This leads to our vision – to be leading the Internet of Food in every neighbourhood,” Meij said.
“The Internet of Food – that is food that is ordered online, for delivery or carry out, is the core reason our business has been able to reach so many more customers, from more stores than we ever anticipated.
“Where drive-through was the ultimate convenience of the last century, digital orders, putting the customer in charge of when, where and how they eat – is the convenience of this century. We are at the forefront of serving those customers.”