Domino's Pizza history
Domino's Pizza company history timeline
In 1960, Tom Monaghan and his brother, James, took over the operation of DomiNick's, an existing location of a small pizza restaurant chain that had been owned by Dominick DeVarti, at 507 Cross Street (now 301 West Cross Street) in Ypsilanti, Michigan, near Eastern Michigan University.
Monaghan borrowed $500 to buy the store, and in 1961 James traded his half of the business to Tom in exchange for a Volkswagen Beetle automobile.
By 1965, Tom Monaghan had purchased two additional pizzerias; he now had a total of three locations in the same county.
The company logo originally had three dots, representing the three stores in 1965.
In 1967 the first Domino's Pizza franchise store was opened in Ypsilanti, Michigan.
In 1975, Domino's faced a lawsuit by Amstar Corporation, the maker of Domino Sugar, alleging trademark infringement and unfair competition.
However, in 1978 the 200th Domino's store opened, and things really began to cook.
On May 2, 1980, the Fifth Circuit Court of Appeals in New Orleans found in favor of Domino's Pizza.
In 1985, the chain opened their first store in the United Kingdom in Luton.
Funding for the Partners Foundation, which was founded in 1986, was derived mostly from voluntary payroll deductions, functions sponsored by Domino's, and special events.
At first, international sales were minimal—amounting to just $16 million in 1986.
People better ordered pizza's from Domino's in order to 'avoid the Noid'. In 1989 a guy named Kenneth Lamar Noid held 2 employees of an Atlanta Domino's restaurant hostage because he thought the 'avoid the Noid' ads were a personal attack on him.
The wind of change had started and by 1992 they were to introduce the first non pizza item to their menu, this was obviously a reluctant move as it was bread sticks.
In 1993 Crunchy Thin Crust Pizza was introduced nationwide.
In 1993 Domino Pizza discontinued this policy and stated that if a customer was unhappy they could have a new pizza or a refund.
In 1993, they became the second American franchise to open in the Dominican Republic and the first one to open in Haiti, under the direction of entrepreneur Luis de Jesús Rodríguez.
By 1994 Dominos Pizza marketing policy widened as chicken wings were introduced to the menu.
rubel, chad. "pizza chains winging it." marketing news, 27 march 1995.
By 1995, Domino's had expanded to 1,000 international locations.
"thomas s. monaghan." nation's restaurant news, february 1996.
"think globally, bake locally." fortune, 14 october 1996.
The special tax break was expected to cost the United States government about $6 million in lost revenue in 1997.
By 1997 they had also had an internal modern facelift as their stores were all brightened up and the company introduced a new logo.
Revenues increased 4.4% over 1998.
In 1998, after 38 years of ownership, Domino's founder Tom Monaghan announced his retirement, sold 93 percent of the company to Bain Capital, Inc. for about $1 billion, and ceased being involved in day-to-day operations of the company.
The company announces record results for 1999, with worldwide sales exceeding $3.36 billion.
Revenues increased 5.3% over 1999.
Domino's Pizza announces record results for 2000.
Revenues increased 6.8% over 2000.
Domino's Pizza announces record results for 2001.
In February 2002, Domino's Pizza acquires 82 franchised stores in the Phoenix, Ariz., market, making it the largest store acquisition in the company's history.
The firm is reporting that pizza sales are up 5.8% in 2003. (Photo by Joe Raedle/Getty Images)
In 2004, Super Bowl Sunday was the most hectic pizza delivery day of the year when Dominos Pizza sold over a million pizzas, which was an increase of 42 percent on their normal Sunday trading volume.
In a simultaneous celebration in January 2006, Domino's opened its 5,000th United States store in Huntley, Illinois, and its 3,000th international store in Panama City, Panama, making 8,000 total stores for the system.
In 2008, Domino’s became one of the world’s largest sandwich delivery restaurants overnight when it launched a line of toasty Oven Baked Sandwiches.
And in December of 2009, Domino’s Pizza announced their plans to reinvent their pizza.
In 2010, Domino’s reinvented their pizza recipe after admitting that their pizza tasted bad.
1 Best CEO of 2011 by CNBC.
In 2011, Domino’s continued to revamp its menu, launching a new recipe for wings and boneless chicken and adding two new bread sides — Stuffed Cheesy Bread and Parmesan Bread Bites.
In August 2012, Domino's Pizza changed their name to simply Domino's.
CEO Patrick Doyle, in May 2014, said the company would concentrate on its delivery model there.
In 2015, Domino’s introduced their “pizza car” which can carry 80 pizzas, 2-liter bottles of sodas, sides, and dipping sauces.
In February 2016, Domino's opened its 1,000th store in India.
Since 2017, Domino’s has paid $544 million (4% of current market cap) in cumulative dividends.
In 2017, Dash Brands Ltd., a foreign investment company specializing in restaurant chains, obtained the exclusive rights for Hong Kong and Macau.
Domino’s Board of Directors promotes Richard Allison to the role of CEO, effective July 1, 2018.
As of October 2019, Domino's Pizza China has about 250 stores in nine cities: Beijing (about 75 stores), Shanghai (about 100 stores), Guangzhou, Shenzhen, Tianjin, Nanjing, Suzhou, Wuxi, and Hangzhou.
As 2020 proves to be a difficult year for many, Domino’s awards a special bonus to company-owned store and supply chain hourly team members and drivers – an investment totaling more than $9.6 million.
A PEBV ratio of 0.9 means the stock is priced for profits to immediately fall and permanently stay 10% below 2021 levels, which as I’ll show below, is highly unlikely.
The company believes the United States market has the potential to grow to 8,000 stores, compared to 6,560 at the end of 2021, and its top 14 international markets could add an additional 10,000 stores, which would nearly double its international store count.
For comparison, McDonald’s systemwide sales from digital channels in 2021 were ~25% of systemwide sales in its top 6 markets.
The company’s partnership with Nuro enabled it to test autonomous pizza delivery vehicles in Houston in 2021.
"Domino's Pizza, Inc. ." Company Profiles for Students. . Retrieved May 23, 2022 from Encyclopedia.com: https://www.encyclopedia.com/economics/economics-magazines/dominos-pizza-inc
If the company uses its remaining repurchase authorization in 2022, the buybacks will provide an annual yield of 4.9% at its current market cap.
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Domino's Pizza competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| Pizza Hut | 1958 | $6.8B | 350,000 | 5,887 |
| McDonald's | 1940 | $23.2B | 210,000 | 40,352 |
| Panera Bread | 1981 | $2.8B | 140,000 | 2,470 |
| Wendy's | 1969 | $2.1B | 12,500 | 5,402 |
| Subway | 1965 | $16.1B | 5,000 | 67 |
| CKE Restaurants Holdings | 1956 | $1.3B | 20,200 | 183 |
| KFC | 1952 | $6.8B | 820,000 | 3,188 |
| Sonic Drive-In | 1953 | $423.6M | 5,000 | 7,807 |
| Krispy Kreme Doughnuts | 1937 | $518.7M | 4,300 | 606 |
| Yum! Brands | 1997 | $6.8B | 34,000 | 59 |
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Zippia gives an in-depth look into the details of Domino's Pizza, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Domino's Pizza. The employee data is based on information from people who have self-reported their past or current employments at Domino's Pizza. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Domino's Pizza. The data presented on this page does not represent the view of Domino's Pizza and its employees or that of Zippia.
Domino's Pizza may also be known as or be related to Domino's Pizza, Domino's Pizza Inc, Domino's Pizza LLC, Domino's Pizza, Inc., Domino’s Pizza, Inc. and Dominos.