HONG KONG, Oct. 9, 2024 /PRNewswire/ -- DPC Dash – Domino's Pizza China ("DPC Dash" or the "Company") (1405.HK), Domino's Pizza's exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, continued to capitalize on significant growth opportunities in the third quarter of 2024, driving success in the underserved Chinese pizza market.
DPC Dash successfully continues to execute its 4D strategy of Development, Delicious pizza at value, Delivery, and Digital. This strategy has enabled the Company to serve high-quality, value-for-money pizzas to a steadily expanding customer base. As reported in the Third Quarter 2024 Investor Fact Sheet ("investor fact sheet"), DPC Dash operates a total of 978 stores in 33 cities as of September 30, 2024.
With its proven "Go Deeper, Go Broader" store network strategy, a total of 210 new stores were opened year-to-date in 2024. The combined total of net new stores added this year, stores currently under construction, and stores with signed agreements has reached approximately 100% of the full-year opening target for 2024. The Company expects to open its 1000th store in the fourth quarter, and plans to open approximately 300 to 350 stores in both 2025 and 2026.
While existing stores continued to maintain strong growth momentum, the newly opened stores are delivering promising performances, reflecting the popularity of Domino's Pizza in the Chinese market. According to the investor fact sheet, DPC Dash now holds 28 of the top 30 positions for first 30-day sales among Domino's network of more than 20,900 stores globally. The strong performance of the overall market marks the third quarter of 2024 as the 29th consecutive quarter of positive same-store sales growth (SSSG) since the current management took over in the third quarter of 2017.
The significant growth in store network and sales performance does not compromise sustainability. In the third quarter of 2024, DPC Dash continued to build communities and gain recognition. The Company's digital initiatives continue to drive customer engagement, attracting new customers by dynamically engaging them through multiple online channels. As of September 30, 2024, the total number of loyalty program members reached 21.7 million, a significant surge from the same period in 2023. The Company continuously enhanced its capability to offer personalized rewards, improving both new customer conversion and existing customer retention. In the past 12 months, 11.0 million new customers placed their first orders with Domino's Pizza China.
DPC Dash remains committed to offering delicious pizza at value for customers, constantly innovating its offerings. During the Paris 2024 Olympic Games, DPC Dash launched new French Burgundy-flavored Beef Pizza and Paris Tower Mousse Cake, adding a taste of France for customers to enjoy during the games. In August, the Company introduced the new Volcano Crust, filled with oozing Cheddar Cheese magma and Oreo crumbs, a brand new addition to its menu. New menu items enjoyed great popularity, while signature items also remained preferred choices for customers.
The Domino's Pizza brand has long built a strong mindshare with its customers that it offers both innovative menu options and value items. DPC Dash has regular promotions including "Crazy Tuesday & Wednesday", and "Mega Week" on its self-operated online ordering channels in select cities, which deliver more value to the customers.
Aside from value offerings for customers, DPC Dash strives to deliver long-term value for shareholders. One year after its successful listing on the Hong Kong Stock Exchange (HKEX), the Company was selected to be a constituent stock for the Hong Kong Hang Seng Composite Index and was officially included into both the Shanghai-Hong Kong Stock Connect Program and Shenzhen-Hong Kong Connect Program in the third quarter of 2024.
The sustainable expansion and growth are testaments of the effectiveness of the Company's 4D strategy and the resilience and flexibility of its business model. Looking ahead, DPC Dash will remain steadfast in its commitment to expansion plans, continuous enhancement of operational efficiency, and the delivery of long-term value to all stakeholders, aiming for sustainable, profitable growth in the vast pizza market in China.
About DPC Dash Ltd.
DPC Dash is Domino's Pizza's exclusive master franchisee in the China mainland, the Hong Kong Special Administrative Region of China and the Macau Special Administrative Region of China. Domino's Pizza, Inc., DPC Dash's global franchisor, is one of the most widely-recognized global consumer brands and the world's largest pizza company. Led by a seasoned and visionary management team, DPC Dash is a market leader that differentiates from competitors with, among others, a continually innovated and localized pizza-focused menu, unique expertise and leadership in delivery, technology focus and scalable and replicable store economic model. DPC Dash operates more than 978 stores in 33 cities in China as of September 30, 2024.
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