Domino’s Pizza’s annual net income increased on the back of higher retail sales in the US and overseas.

Net income increased 14.8 per cent to $519.1 million despite total revenue sliding 1.3 per cent to $4.48 billion last year.

However, retail sales grew 3.1 per cent to $9.03 billion in US stores and by 7.7 per cent to $9.25 billion in international stores, excluding the impact of exiting the Russian market and foreign currency.

Same-store sales rose 5.4 per cent in US company-owned stores and climbed 1.4 per cent in US franchise stores. International same-store sales improved 1.7 per cent.

Domino’s Pizza’s net store growth stood at 711. The company noted that the remaining 143 net stores in Russia were reflected as closed in the third quarter, following the announcement of its master franchisee there filing for bankruptcy.

From this year through to 2028, the company forecasts 7 per cent increase in annual global retail sales, the addition of 1100 net stores annually, and an 8 per cent higher annual income from operations.