Domino’s: Pizza chain reports order growth and expects ‘minimal’ tariff impact
Domino’s has reported order growth ahead of the market and said it does not expect Trump tariffs to impact the business.
Its share price dipped by just over one per cent in early trades.
Total sales rose 2.1 per cent to £393.3m in the first quarter of 2025, from £385.2m in 2024, while total orders rose 0.5 per cent to 17.8m, from 17.7m in 2024.
CEO Andrew Rennie said that the company expected “minimal impact” from Trump’s tariffs.
“We continue to assess any indirect impacts on our supply chain, monitor the broader environment going forward and our full year expectations remain unchanged,” Rennie said.
The company said it has seen success from its loyalty trial, now in its second phase and with a target of August 2026 for a full roll out.
Domino’s has 26 new stores in construction or with planning approved, which will take its overall store count to 1,401.
It plans to open 50 stores overall in the 2025 financial year despite the “uncertain environment”.
CEO Andrew Rennie added: “Our focused operational strategy returned the Domino’s system to growth in the second half of last year and growth has continued in 2025.
“During the first quarter Domino’s market share has strengthened, our franchise partners have driven further improvements in delivery times and we continue to focus on giving our customers compelling value.
“Looking ahead, whilst the market and consumer environment has become more uncertain since our FY results, we remain confident that our ongoing strategic initiatives, store opening pipeline and collaboration with our franchise partners will allow us to continue to win market share.”
Panmure Liberum analysts rated the stock a ‘buy’.
“Strong upbeat with sales growth, LFL sales, order growth all continuing at the same pace as announced at the prelims from early March.
This update should provide further confidence that the strategy is delivering growth and market share gains in what remains a touch[y] environment… the valuation remains too cheap for such a high-quality asset.”
The analysts also pointed out that Domino’s order growth of 0.5 per cent sits “in stark contrast” to Just Eat, which delivered a four per cent drop in the first quarter.