The company reported global net store growth of 394 for the fourth quarter of 2023. Credit: Scott Kenneth Brodie via Shutterstock.com.

Domino’s Pizza has reported a net income of $157.29m for the fourth quarter (Q4) of 2023, a marginal 0.6% decrease compared to $158.3m in the previous year.

The company attributes this marginal decline to an increased provision for income taxes.

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For the quarter ended 31 December 2023, Domino’s total revenue rose by 0.8% to $1.40bn from $1.39bn in the same period of the previous year.

This $10.7m increase in revenue was primarily driven by higher global franchise royalties and fees, a result of a 4.9% growth in global retail sales and an uptick in supply chain revenues.

Income from operations grew by 3.4% to $8.4m compared to the fourth quarter of 2022.

The company’s diluted earnings per share stood at $4.48 for Q4 2023, a slight rise from $4.43 in the same quarter of the previous year.

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Excluding the impact of foreign currency fluctuations, Domino’s Pizza’s global retail sales grew by 4.9% during the quarter.

In the US, the company reported a 2.8% growth in same-store sales for Q4 2023.

Internationally, the same-store sales saw a modest increase of 0.1%, excluding the effects of foreign currency.

Domino’s global net store growth for the fourth quarter was 394.

Domino’s CEO Russell Weiner said: “Our strong fourth quarter demonstrates that our Hungry for MORE strategy is already delivering results. This strategy, which we recently unveiled at our Investor Day, is our plan to deliver MORE sales, MORE stores and MORE profits.

“Domino’s foundation has never been stronger. Our positive US transactions and same-store sales growth in both our delivery and carryout channels in the fourth quarter underscore the strength and momentum in our business.

“These results give us confidence in our brand and the company’s ability to win and create meaningful value for our shareholders.”