Domino's is the world's largest pizza company, with over 22,100 locations across more than 90 countries. Its core business is selling pizza via delivery and carryout, primarily through a franchise network — roughly 99% of stores globally are franchisee-owned. In the U.S., Domino's has about 7,200 stores operated by 754 franchisees; internationally, most markets are run by master franchisees who hold regional rights. Over 85% of U.S. sales come through digital channels, and Domino's recently expanded distribution through Uber Eats and DoorDash. Domino's reports three segments: Supply Chain (~61% of revenue), U.S. Stores (~33%), and International Franchise (~7%). The Supply Chain segment operates 22 regional dough and distribution centers in the U.S. and sells food and supplies to franchisees at a markup, though margins are lower given the pass-through model. The U.S. Stores segment earns royalties of 5.5% on franchisee sales. The International Franchise segment, while the smallest by revenue, carries the highest margins due to minimal costs. The key financial drivers are same-store sales growth and net new store openings, both of which expand the royalty and supply chain base. Domino's growth strategy focuses on new product launches, aggregator expansion, carryout growth via its loyalty program, and store count expansion — targeting 8,500 U.S. stores long-term, up from roughly 7,200 today.
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