Investors tuck into shares at Domino's as soaring web and mobile phone pizza sales offset slowdown worry
Traders gobbled up Domino’s Pizza shares as soaring web and mobile phone sales offset any concerns over slowing revenue growth and a scaled-back programme of store openings.
Total sales in the third quarter were up by 10.4 per cent to £140.9million, down from a growth rate of 13.8pc in the first half of the year.
It also revealed that it plans to open just 50 stores this year, compared with 69 in 2012 and 62 the year before that.
Orders: Domino's said sales via mobile phones more than doubled, up by 102.5 per cent
But the markets brushed aside any fears that Domino’s is losing its sheen, sending its stock up 21.5p to 610.5p.
A spokesman said the smaller target for new stores this year was down in part to local councils holding up planning applications due to distaste for the arrival of new takeaway outlets.
He added that the pace has also slowed as Domino’s introduces new store layouts with seating and glass frontages, so that customers can see the pizzas being made.
Like-for-like sales, stripping out new stores, were up by 5.6 per cent, with growth partly driven by British pizza lovers ordering via the web.
Total sales in the UK, where Domino’s has 750 outlets, rose by 19.8 per cent in the third quarter, with the web accounting for 62.4 per cent of sales in this country, up from 58.4 per cent last year.
And sales via mobile phones more than doubled, up by 102.5 per cent, making up nearly a third of the firm’s £72.3million of online sales during the quarter
Most watched Money videos
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Fiat pledges to cease grey car production as they launch new EV
- Land Rover unveil newest all-electric Range Rover SUV
- Blue Whale fund manager on the best of the Magnificent 7
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Mini Cooper SE: The British icon gets an all-electric makeover
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- How to invest for income and growth: SAINTS' James Dow
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Watches of Switzerland buys Italy's Roberto Coin Inc for...
- MARKET REPORT: North Sea giant Harbour closes in on £9bn...
- BBVA goes directly to shareholders as it steps up bid for...
- Bank of England paves way for Britain to cut interest...
- BAE Systems tools-up for growth as Britain plots defence...
- Cameron left red-faced as Greensill sues Government over...
- Takeover target Wood Group hit by slump in revenues as...
- Avon Protection handed £38m gas mask contract by MoD
- ITV hit by Hollywood strikes as it pins hopes on Euros...
- Bailey pulls his punches on interest rates yet...
- Why we need more than a British Isa to move the dial on...
- Mortgage rates are climbing again - should we be worried?...
- BUSINESS LIVE: BoE base rate decision; ITV eyes ad market...
- Used car sales hit a five-year high as fresh supply of...
- ITV hopes for summer ad boom as it continues to reel from...
- Vodafone told to boost security as £15bn Three merger is...
- Ford confirms it will cull another of its best-selling...
- Two in five believe ovens will become obsolete as the air...