ANN ARBOR, Mich. - Domino's Pizza Inc. (NYSE: NYSE:DPZ), the world's leading pizza company, today announced the appointment of Kate Trumbull as Executive Vice President and Chief Marketing Officer, effective November 1, 2024. Trumbull, who has been with the company since 2011, will lead the global marketing efforts and report to Joe Jordan, President of U.S. and Global Services.
Trumbull's career at Domino's has seen her rise through various leadership positions, including her role as Senior Vice President and Chief Brand Officer, where she oversaw advertising, media, product innovation, and national sales. Her work has been central to Domino's marketing successes, including campaigns like Paving for Pizza and the revamp of Domino’s Rewards loyalty program.
Joe Jordan praised Trumbull's vision and passion, crediting her with playing a key role in Domino's growth and expressing confidence in her ability to elevate the company's marketing strategies on a global scale. Trumbull herself acknowledged the influence of Domino's franchisees on her marketing approach and expressed pride in her team's contributions to the brand's success.
Domino's, founded in 1960, operates over 21,000 stores in more than 90 markets and has seen global retail sales surpass $18.9 billion for the trailing four quarters ended September 8, 2024. The company has also been a pioneer in digital ordering, with over 85% of U.S. retail sales in 2023 conducted through digital channels.
This announcement is based on a press release statement from Domino's Pizza.
In other recent news, Domino's Pizza has been making strides despite a competitive market. The company reported a 6.6% increase in U.S. retail sales and a 5.1% growth in global retail sales for Q3, marking its fourth consecutive quarter of same-store sales growth. Internationally, retail sales grew by 6.5% in the first three quarters, albeit falling short of expectations due to macroeconomic and geopolitical pressures.
Bernstein SocGen Group revised Domino's financial outlook, reducing the price target to $440 from $460 while maintaining a Market Perform rating. This reflects concerns over U.S. delivery sales, which have shown a negative trend after three quarters. Despite these challenges, Domino's Pizza's carryout segment's steady growth and the company's focus on value are expected to support its market share gains.
Recent developments include Domino's Pizza's aggressive share buyback program, supported by the company's ability to refinance debt at lower rates. The company has purchased $190 million out of $215 million in year-to-date share buybacks in the third quarter alone. Additionally, Domino's Pizza has revised its global net store growth guidance to 800-850, down from 825-925, and launched a new mac and cheese product as part of its ongoing value-focused initiatives.
InvestingPro Insights
As Domino's Pizza Inc. (NYSE: DPZ) appoints Kate Trumbull as its new Chief Marketing Officer, investors may find additional context from recent financial data and expert insights valuable. According to InvestingPro, Domino's has demonstrated strong financial performance and shareholder value creation.
The company's market capitalization stands at $14.79 billion, reflecting its significant presence in the global pizza market. Domino's has shown a commitment to shareholder returns, with InvestingPro Tips highlighting that the company has raised its dividend for 11 consecutive years and maintained dividend payments for 13 consecutive years. This consistent dividend policy aligns well with the company's stable business model and global expansion efforts mentioned in the article.
Domino's financial health appears robust, with InvestingPro Data showing a revenue of $4.67 billion over the last twelve months as of Q3 2024, representing a growth of 4.41%. This growth is consistent with the company's reported global retail sales surpassing $18.9 billion for the trailing four quarters.
The company's profitability is also noteworthy, with an operating income margin of 18.49% and a gross profit margin of 28.47% over the same period. These figures suggest that Domino's has been effective in managing costs while growing its business, which could be partly attributed to its digital ordering initiatives mentioned in the article.
However, investors should note that Domino's is trading at a relatively high P/E ratio of 26.11, which an InvestingPro Tip suggests is high relative to near-term earnings growth. This valuation metric may be important to consider in light of Kate Trumbull's appointment and the potential impact on future marketing strategies and growth.
For those interested in a deeper dive into Domino's financial health and future prospects, InvestingPro offers additional tips and metrics. In fact, there are 10 more InvestingPro Tips available for Domino's Pizza, which could provide valuable insights for investors looking to make informed decisions about this global pizza giant.
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