Innovation drives bumper growth for Domino's - sales up 32%

Sarah Homewood
By Sarah Homewood | 16 August 2016

Domino's has reported a sales lift of 32% in its full year results out today.

The pizza/technology company is only seeing numbers in the black with its reported network sales, including Japan, Europe and Aus, reaching AUD$1.96 billion. Its net profit after tax hit $92.0 million, up 43.6% on the prior corresponding period, which exceeded expectations.

When it comes to its local results, the business announced that Domino’s ANZ recorded an “outstanding” underlying EBITDA growth of 28%, which it said was as a result of launching a range of digital initiatives such as the “market-first” Project 3/10, 15/20 minute service guarantees, SMS ordering and on time cooking.

The brand also cited other initiatives including the global launch of the “world’s first autonomous delivery vehicle”, Domino’s Robotic Unit (DRU), as well as smartwatch ordering in Australia, all contributed towards strong ANZ online sales growth of 33% year-on-year.

Moving forward, CEO and managing director Don Meij said today that the brand is not only going after its Pizza rivals, rather its also going after quick service restaurant rivals. Basically anyone with a drive thru is on Domino's radar.

“We expect ‘Project 3/10’ to continue to be a significant sales stimulus over the next 3-5 years, with 10-minute delivery attracting drive-thru customers from our largest competitors,” he said.

Domino’s revealed a raft of these initiatives at its inaugural innovation event Abacus, with Meij, highlighting at the time that Domino's is in a transformation period, with the company looking at all sorts of technology as ways that can help the business not only drive efficiencies, but also ensure that its customers get the best experience.

“We’re not creating gimmicks,” he says. “Gimmicks are gone in a day and cost millions to be gone in a day.

"All of this tech is inspired by our customers - it’s inspired to make our business better.”

Speaking with AdNews about the evolution of the Domino's brand, the company's chief digital officer, Michael Gillespie, said the business' entry into the digital space gave it an opportunity to set itself apart from not only its competitors, but also set itself apart from the retail environment and the markets it's in.

“Obviously innovation is a great driver of our business. We’re not a pure play digital company, pizza is at our core, but if you look at our people, our pizza, our product and innovation, all those things need to be firing for us to be as successful as we are as a business,” he said.

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