Domino's Pizza Group Expands Franchise Partnership

(Reuters) – UK's Domino's Pizza (NYSE:DPZ) Group announced on Monday a new five-year framework with franchise partners, focusing on store expansion and investments.

The new Profitability and Growth Framework will commence on January 3, after the current agreement ends. This framework gained unanimous support from franchisees, fostering alignment through shared marketing and technology investments, with added incentives for new store openings.

Domino's Pizza Group plans to enhance its investment strategy, extending the period for new store incentives from three to five years. The company aims for 2 billion pounds in system sales by 2028, with over 1,600 stores.

Last month, Domino's projected the opening of 50 to 60 new stores in the 2024 fiscal year and is on course to inaugurate its 1,400th store next year.

The London-listed chain operates under the U.S.-parented Domino's Pizza in the UK and Ireland, reporting a 5.3% increase in total orders and a 2.7% rise in like-for-like sales in the first nine weeks of the fourth quarter.