Domino's Pizza is cooking up more U.S. shops on the strength of a sales surge, CEO Richard Allison told investors during a conference call.
The chain will spend between $115 million and $120 million to prep its suppliers to handle 2,350 new shops, on top of its 5,650 existing ones, reports CNN. "As we look forward, we see an opportunity to take share broadly across the industry," Allison said. Same-store sales grew by 6.9 percent in the second quarter year on year, driven mostly by an increase in orders.
Domino's has been growing for years, thanks in part to a focus on affordable meals, says Peter Saleh, a restaurant analyst at BTIG. Technology has helped too. Over the past several months, Domino's has introduced delivery service to about 200,000 locations that lack a traditional address, such as parks and beaches.
By Brannon Boswell