Domino’s is planning to open 200 new stores in a bid to increase sales to £1.9bn, the pizza chain announced this morning.
The firm, which reported that sales increased 11.4 per cent to £1.35bn last year, today launched a new strategic plan to beat competitors that have invested in online delivery capability during the pandemic.
It said that in order to deliver its medium-term ambition of total sales of £1.6bn to £1.9bn, it will open an additional 200 stores and “turbo-charge” its collection business to double market share.
“As we come out of the restrictions of Covid-19 we will be competing in an environment that has most likely changed forever with an increased presence of aggregator operators and more digitally aware consumers that are familiar with the benefits of home food delivery,” Domino’s said in a statement.
“We have already invested in our core capabilities and built upon our core strengths to capture the opportunities ahead.
“We know how to improve our marketing effectiveness, utilise data and insights to inform our decision making, leverage the strength of our supply chain to drive efficiencies and accelerate our already strong digital and technology credentials”.
Domino’s reported statutory profit before tax of £39.7m in the year ended 27 December 2020, up from £2.8m in the previous year.
It announced a dividend per share of 9.1p, to be paid on 4 May.