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Domino's UK Sees Sales Jump on Chicken and New Products
23 Apr
Summary
- Domino's UK reported a 4.5% like-for-like sales growth in Q1.
- New fried chicken products are gaining traction with customers.
- Company costs are hedged for the current financial year.
Domino's Pizza Group UK reported a positive first quarter, with like-for-like sales growing by 4.5%. This growth was attributed to an increase in underlying demand and the successful introduction of new products, particularly in the fried chicken category.
The company's new CHICK 'N' DIP range has performed as expected, aligning with their strategy to attract customers amidst a struggling pizza industry. This initiative aims to offset slower demand, even with competitive offers.
Domino's UK has secured its costs for the current financial year, with some hedges extending into 2027. The firm anticipates no supply issues stemming from the Iran war, which has impacted global supply chains and energy prices.
Analysts at RBC Capital Markets noted a strong start to the year for Domino's UK, predicting further boosts from the upcoming FIFA World Cup in the second and third quarters.
