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Domino’s Suspends Long-term Global Net Store Growth Guidance

publication date: Jul 18, 2024
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Image: Domino’s shares have done well since the beginning of 2023, but visibility into its long-term global net store growth has become murky given problems at one of its master franchisees. 

Domino’s quarterly results and free cash flow performance weren’t poor by any stretch, but the firm disappointed investors with respect to its updated global net store growth forecast. The company noted that it will come up 175-275 stores short of its international store growth target in 2024, and it temporarily suspended its guidance that previously called for 1,100+ global net stores annually over the period 2024-2028. It now expects 825-925 net new stores in 2024. We didn’t like the news, but we remain fans of Domino’s long-term story and are keeping the idea as a holding in the Best Ideas Newsletter portfolio.


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