Domino's Pizza, Inc. (NASDAQ:DPZ) Q2 2025 Earnings Conference Call July 21, 2025 8:30 AM ET
Company Participants
Gregory J. Lemenchick - Vice President of Investor Relations
Russell J. Weiner - CEO & Director
Sandeep Reddy - Executive VP & CFO
Conference Call Participants
Alexander Russell Slagle - Jefferies LLC, Research Division
Andrew Michael Charles - TD Cowen, Research Division
Brian James Harbour - Morgan Stanley, Research Division
Brian John Bittner - Oppenheimer & Co. Inc., Research Division
Christopher Thomas O'Cull - Unidentified Company
Stifel Financial Corp. - Unidentified Company
Danilo Gargiulo - Sanford C. Bernstein & Co., LLC., Research Division
David E. Tarantino - Robert W. Baird & Co. Incorporated, Research Division
David Sterling Palmer - Evercore ISI Institutional Equities, Research Division
Dennis Geiger - UBS Investment Bank, Research Division
Gregory Ryan Francfort - Guggenheim Securities, LLC, Research Division
Hyun Jin Cho - Goldman Sachs Group, Inc., Research Division
Jeffrey Andrew Bernstein - Barclays Bank PLC, Research Division
Jeffrey Daniel Farmer - Gordon Haskett Research Advisors
John William Ivankoe - JPMorgan Chase & Co, Research Division
Jon Michael Tower - Citigroup Inc., Research Division
Lauren Danielle Silberman - Deutsche Bank AG, Research Division
Peter Mokhlis Saleh - BTIG, LLC, Research Division
Sara Harkavy Senatore - BofA Securities, Research Division
Operator
Thank you for standing by, and welcome to Domino's Pizza's Second Quarter 2025 Earnings Conference Call. \[Operator Instructions] As a reminder, today's program is being recorded.
接线员
感谢各位耐心等待，欢迎参加达美乐比萨 2025 年第二季度财报电话会议。\[接线员操作说明] 提醒各位，今天的会议正在录音。
And now I'd like to introduce your host for today's program, Greg Lemenchick, Vice President, Investor Relations. Please go ahead, sir.
现在，我将介绍今天会议的主持人——投资者关系副总裁 Greg Lemenchick 先生。请开始。
Gregory J. Lemenchick
Good morning, everyone. Thank you for joining us today for our second quarter conference call. Today's call will begin with our Chief Executive Officer, Russell Weiner; followed by our Chief Financial Officer, Sandeep Reddy. The call will conclude with a Q\&A session.
大家早上好。感谢各位参加我们今天的第二季度财报电话会议。今天的会议将由首席执行官 Russell Weiner 先生开场，随后是首席财务官 Sandeep Reddy 先生的发言。会议最后将进行问答环节。
The forward-looking statements in this morning's earnings release and 10-Q, both of which are available on our IR website, also apply to our comments on the call today. Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in our filings with the SEC. In addition, please refer to the 8-K earnings release to find disclosures and reconciliations of non-GAAP financial measures that may be referenced on today's call.
我们今天通话中的言论同样适用于今早发布的财报公告和10-Q文件中的前瞻性声明，这两份文件都可在我们投资者关系网站上查阅。实际结果或趋势可能与我们的预测存在重大差异。更多信息，请参阅我们向美国证券交易委员会提交的文件中讨论的风险因素。此外，请查阅8-K财报公告，其中包含了本次电话会议可能提及的非GAAP财务指标的披露与调节说明。
This morning's conference call is being webcast and is also being recorded for replay via our website. We want to do our best this morning to accommodate as many of your questions as time permits. As such, we encourage you to ask one question only.
本次电话会议正在进行网络直播，并将录音存档于我们的网站以供回放。我们希望尽最大努力在有限的时间内回答尽可能多的问题。因此，请大家尽量每人仅提一个问题。
With that, I'd like to turn the call over to Russell.
接下来，我将把会议交给 Russell。
Russell J. Weiner
Thanks, Greg, and good morning, everybody. Our team drove strong results in the second quarter. In the U.S., both our delivery and carryout businesses were positive, and we drove meaningful market share gains. In international, we continue to grow despite a challenging macro environment. It's clear that our Hungry for MORE strategic pillars are working together to deliver more sales, more stores and more profit.
感谢你，Greg，大家早上好。我们的团队在第二季度取得了强劲的业绩。在美国，我们的外送和自取业务均实现增长，并获得了显著的市场份额提升。在国际市场，尽管宏观环境充满挑战，我们依然保持增长。很明显，我们的“Hungry for MORE”（渴望更多）战略支柱正在协同发力，带来更多销售额、更多门店以及更多利润。
I'd like to highlight some of the initiatives that help us drive these results. The M in Hungry for MORE stands for most delicious food. An important way to drive deliciousness is through new products. Late in the first quarter, we added one of the biggest new menu items in our history, Parmesan Stuffed Crust pizza. This launch has gone extremely well and has met the high expectations that we had for it on every level. It's delivering incremental new customers to Domino's and a high mix that has been in line with our projections. Most importantly, our teams are executing this more complex product very well. This is proof that the training investments we made ahead of this launch paid off. In fact, customer praise for this product has been significantly higher than any of our recent product launches. Customers love Parmesan Stuffed Crust.
我想重点介绍一些帮助我们取得这些成果的举措。“Hungry for MORE”中的“M”代表“最美味的食物”。提升美味的一个重要方式就是推出新产品。今年第一季度末，我们推出了历史上最重磅的新菜单之一——帕玛森芝士芝心比萨。这一产品的上市表现非常出色，完全达到了我们在各个层面的高预期。它为达美乐吸引了额外的新顾客，并实现了符合我们预期的高销售占比。更重要的是，我们的团队很好地执行了这一复杂产品的制作流程，这证明我们在上市前进行的培训投入是值得的。事实上，消费者对这款产品的赞誉远高于我们近期推出的其他产品。消费者非常喜欢帕玛森芝士芝心比萨。
I want to thank our franchisees and our operations team for their continued efforts to achieve operational excellence around this highly complex product. This is a point of differentiation for our brand. The early read shows that the addition of Stuffed Crust should be a market share catalyst for us over time as this was a big reason why Domino's customers would go elsewhere in the past.
我想感谢我们的加盟商和运营团队，为了在这一复杂产品上实现卓越运营，他们付出了持续努力。这是我们品牌的差异化亮点。早期数据显示，芝心比萨的加入将在未来成为我们市场份额增长的催化剂，因为过去这正是一些达美乐顾客选择他家比萨的一个重要原因。
The next Hungry for MORE pillar I'd like to highlight is Renowned Value, which has been a key strength for Domino's. We're driving Renowned Value through national promotions, Domino's Rewards and by growing on aggregator platform.
接下来我想强调的是“Hunger for MORE”战略中的另一个支柱——“著名的价值”，这是达美乐的一大核心优势。我们通过全国性的促销活动、Domino’s Rewards（达美乐奖励计划），以及在聚合平台上的拓展来实现这一价值主张。
Domino's Rewards was a tailwind to our comp in the quarter, particularly in the carryout business. You'll recall that growing carryout users was one of the primary reasons we redesigned the loyalty program. Active users continue to grow, and I expect Domino's Rewards to be a multiyear sales driver.
本季度，Domino’s Rewards 对我们的同店销售增长起到了推动作用，尤其是在自取业务方面。你们可能记得，扩大自取用户群正是我们重新设计忠诚度计划的主要原因之一。活跃用户数量持续增长，我预计 Domino’s Rewards 将成为我们未来多年的销售增长引擎。
We have a strong fleet of initiatives ready to go for the rest of the year, inclusive of our Best Deal Ever promotion, which is currently running through early August. We will continue to give customers what they want, which is more value in an environment where they remain pressured.
我们已准备好在今年剩余时间推出一系列强有力的举措，包括正在进行、持续到八月初的“有史以来最划算”促销活动。在当前消费者承压的环境下，我们将持续为他们提供他们最想要的东西——更多的价值。
The other part of our Renowned Value barbell strategy is tapping into the aggregator marketplace for pizza delivery. We recently completed our national rollout with DoorDash, the largest aggregator in the U.S. This rollout went extremely well as we were able to apply learnings from our prior launch with Uber. We will now begin marketing on the platform with investments coming from both sides.
我们的“著名价值”杠铃策略的另一部分，是通过聚合平台拓展比萨外送业务。我们最近完成了与美国最大聚合平台 DoorDash 的全国部署。此次推广非常顺利，因为我们成功应用了此前与 Uber 推出合作时的经验。接下来，我们将在该平台上启动营销活动，并由双方共同投入资源。
The expectation is that our sales on DoorDash will build as awareness and marketing increases. We continue to expect this to be a meaningful driver to our U.S. comp in the back half of the year.
我们预计，随着品牌认知度和市场营销的提升，在 DoorDash 上的销售额将持续增长。我们仍然认为这一渠道将在今年下半年为我们美国业务的同店销售增长带来实质性推动。
Everything we do at Domino's is enhanced by our best-in-class franchisees. You've often heard us talk about how our franchisees are the secret sauce to our success, and this continues to be the case. In the second quarter, we refranchised 36 company-owned stores in Maryland to a new franchisee that's not so new to Domino's. In fact, he's been a part of the Domino's system for more than 2 decades. We continuously assess opportunities to strengthen the brand's position for long-term success, whether that means expanding into new markets, or transitioning existing ones to franchisees to grow their business.
我们在达美乐所做的一切都得益于我们一流的加盟商。你们经常听到我们说加盟商是我们成功的“秘密酱料”，这一点至今仍然成立。第二季度，我们将马里兰州的36家直营门店转让给了一位“新”加盟商——但其实他在达美乐体系中已有20多年经验。我们不断评估各种机会，以巩固品牌的长期成功地位，无论是进军新市场，还是将现有市场交由加盟商经营、以拓展他们的业务。
I believe we've never been in a stronger position to drive sustained growth in our U.S. business. We have best-in-class franchisee economics in QSR pizza, the largest advertising budget, the best supply chain and the rewards program that has never been bigger. We're now fully rolled out on the two largest aggregators and with the addition of Stuffed Crust, have all the major crust types on our menu. We have never had this many tools at our disposal to capture market share. This will be how we drive best-in-class results and long-term value creation for our franchisees and shareholders well into the future.
我认为，我们从未像现在这样具备推动美国业务持续增长的有利条件。我们在快餐比萨领域拥有最出色的加盟商盈利能力、最大的广告预算、最优的供应链，以及史上最强的奖励计划。我们已全面进驻两大聚合平台，同时随着芝心比萨的加入，我们的菜单已涵盖所有主流比萨饼底类型。我们从未拥有如此多样化的工具来获取市场份额。这将成为我们实现行业领先业绩、并为加盟商和股东创造长期价值的重要路径。
I'll now hand the call over to Sandeep.
接下来我将电话交给 Sandeep。
Sandeep Reddy
Thank you, and good morning, everyone. Our second quarter financial results continue to be impacted by a challenging macro backdrop, but we delivered profit growth that was slightly ahead of our expectations, primarily due to the timing of investments. Income from operations increased 14.9% in Q2, excluding the impact of foreign currency.
谢谢大家，早上好。尽管宏观环境依然严峻，我们在第二季度的财务表现略好于预期，主要是由于投资时点的影响。剔除汇率影响后，本季度营业利润同比增长了14.9%。
The increase was primarily due to higher U.S. franchise royalties and fees, gross margin dollar growth within supply chain and lower G\&A expenses. The lower G\&A was primarily a result of expenses related to our Worldwide Rally that took place in the second quarter of 2024. It also benefited from the refranchising of 36 company-owned stores in our Maryland market, which resulted in a pretax refranchising gain of \$3.9 million.
利润增长主要得益于美国加盟权利金和费用的增加、供应链毛利额增长以及一般管理费用（G\&A）的下降。G\&A的下降主要是由于2024年第二季度举办的全球大会相关费用较低。同时，我们将马里兰市场的36家直营门店特许经营化，也带来了390万美元的税前收益。
Excluding this gain and a small amount of severance related expenses in Q2 related to our previously announced organizational realignment, our income from operations would have increased 13.2%. Excluding the impact of foreign currency, global retail sales grew 5.6% in the second quarter, primarily due to positive U.S. and international comps and global net store growth.
如果剔除上述收益以及第二季度因我们先前宣布的组织调整产生的少量遣散费影响，我们的营业利润同比增长为13.2%。在不计汇率影响的情况下，第二季度全球零售销售额同比增长5.6%，主要受益于美国与国际市场的同店销售增长和全球净开店数的提升。
In Q2, retail sales grew by 5.1% in the U.S., primarily driven by same-store sales and net store growth. This growth was in line with our expectations and paced well ahead of the QSR pizza category, which was roughly flat through the first half of the year. Same-store sales accelerated to 3.4% for the quarter on the strength of our Parmesan Stuffed Crust pizza launch, which drove positive transaction counts.
第二季度，美国零售销售额同比增长5.1%，主要由同店销售增长和净开店带动。这一增长符合我们的预期，并明显领先于快餐比萨品类，该品类在上半年整体表现基本持平。本季度同店销售同比加速至3.4%，得益于帕玛森芝士芝心比萨的推出，推动了交易数量的增长。
Average ticket benefited from 1.4% of pricing and the addition of Stuffed Crust, which carries a higher price point. This was partially offset by a slight decline in our mix due to a higher carryout business that carries a lower ticket than delivery. Our carryout comps were up 5.8% and it was our highest quarter of average carryout orders of all time.
客单价受到1.4%的提价影响和芝心比萨（高价位产品）的提振。但由于自取业务占比上升，而自取的客单价通常低于外送，因此组合效应对客单价形成了一定拖累。我们的自取同店销售同比增长5.8%，创下历史最高季度平均自取订单数纪录。
Delivery was positive 1.5%, and we saw improvement in both our own channel and aggregator delivery business.
外送业务同比增长1.5%，我们自营渠道与聚合平台的外送业务均有所改善。
Shifting to U.S. unit count. We added 30 net new stores, bringing our U.S. system store count to 7,061.
美国门店方面，我们净增30家门店，使美国系统总门店数达到7,061家。
International retail sales grew 6%, excluding the impact of foreign currency in the quarter. This was driven by net store growth of 148 and same-store sales that came in around our expectations at 2.4% We have not seen any material impact to date from global macro or geopolitical uncertainty.
第二季度，国际市场零售销售额同比增长6%（不含汇率影响），主要由净增148家门店及2.4%的同店销售增长所带动，表现与我们预期基本一致。截至目前，全球宏观或地缘政治不确定性尚未对我们造成实质性影响。
In the quarter, we saw strength in Asia that was due to continued strong comps in India and in our Americas region, which was driven by Canada and Mexico.
本季度，亚洲市场表现强劲，主要由于印度的同店销售持续强劲，美洲地区则主要由加拿大和墨西哥推动增长。
Moving to capital allocation. We repurchased approximately 316,000 shares at an average price of \$475 for a total of \$150 million in the second quarter. As of the end of Q2, we had approximately \$614 million remaining on our share repurchase authorization.
资本分配方面，我们在第二季度回购了约31.6万股，平均价格为475美元，总金额为1.5亿美元。截至第二季度末，我们的股票回购授权余额约为6.14亿美元。
Now turning to our outlook for 2025. We continue to believe that global retail sales growth should be generally in line with 2024. As part of that, we expect the following.
接下来谈谈我们对2025年的展望。我们仍认为全球零售销售增长应与2024年大致持平。基于此，我们预期如下：
First, we continue to expect our U.S. comp for the year to be 3% and that it will be higher in the second half due to the timing of our initiatives. This assumes that the pressured macro environment we have seen through the first half of the year in QSR pizza remains the same.
首先，我们预计全年美国同店销售增长率为3%，下半年将高于上半年，这主要是由于我们各项举措的时间安排。这一预测基于快餐比萨行业所面临的宏观压力环境在下半年不会明显改善的假设。
Second, we continue to expect our international same-store sales growth to be 1% to 2% due to potential global macro and geopolitical uncertainty.
其次，考虑到全球宏观和地缘政治不确定性，我们仍预计国际市场同店销售增长率为1%至2%。
Third, we continue to expect 175-plus net stores in the U.S., and internationally net store growth to be in line with what we had in 2024.
第三，我们仍预期美国市场全年净增门店超过175家，国际市场的净增门店数将与2024年相当。
Lastly, at current exchange rates, we now expect foreign currency to be a headwind of approximately 1% on operating income growth, but this remains volatile. We continue to expect operating income growth of approximately 8% excluding the impact of foreign currency, approximately \$5 million in service expenses related to the organizational realignment we announced in Q1 and the \$3.9 million in refranchising gains.
最后，按当前汇率计算，我们预计外汇将对营业利润增长造成约1个百分点的负面影响，但该影响仍具波动性。我们仍预计，在剔除汇率影响、第一季度宣布的组织重组相关500万美元服务费用以及390万美元重授特许收益之后，全年营业利润将增长约8%。
Thank you. We will now open the line for questions.
谢谢大家。接下来我们将开启问答环节。
Question-and-Answer Session
问答环节
Operator
Certainly our first question for today comes from the line of David Palmer from Evercore ISI.
好的，今天的第一个提问来自 Evercore ISI 的 David Palmer。
David Sterling Palmer
Great to see the acceleration in same-store sales. I wanted just to bring up sort of the pushback or the big discussion that we often hear on Domino's and maybe get your broad take on it. And that is largely the view that you're entering perhaps this last year of a third-party marketing lift and that the menu news has been fantastic here with Stuffed Crust and this is your -- perhaps your biggest, best bet. So people have this feeling that we're entering a really a golden year for Domino's, and it's going to be tough for you to keep a 3% plus comp going longer term after this time period.
同店销售加速的表现令人欣喜。我想提一个关于达美乐常被讨论的话题，也许也算是一种质疑的声音，想听听你们更全面的看法。人们普遍认为你们现在正处于第三方平台营销红利的最后一年，而芝心比萨的推出非常成功，可能是你们目前最大也最出色的一张牌。于是有种看法是，今年可能是达美乐的“黄金年”，但在此之后，要长期维持3%以上的同店销售增长会很困难。
You see your pipeline, you see initiatives and other types of scale advantages, your driver economics that will be reinforced by the things you're doing, the wider net is being cast, maybe some digital platforms that are being built. But what are the big reasons that you could say that you feel confident looking at what your plans are and the things that you see that can make people feel better today about sustaining 3% plus.
你们掌握自己的产品储备、各种战略举措以及规模优势，包括你们正在强化的送餐员经济模型、不断拓展的触达渠道，乃至正在建设的数字平台。那么基于你们的计划和所看到的前景，有哪些关键因素能让你们有信心、也让投资人安心，认为你们可以持续维持3%以上的同店增长？
Russell J. Weiner
You talk about the last year. In your words, I'll use golden when I talk to my mom after the call definitely. But to me, it would be helpful is just to take a look at the last decade. The last decade is essentially 1 share point a year, every year for the last decade. You're right. What we didn't have at that point was aggregators. What we didn't have at that point was Stuffed Crust or even New York Style Pizza.
你提到“最后一年”，你用“黄金年”这个词，我等下跟我妈聊天时一定会提（笑）。但对我来说，有帮助的视角是看看过去十年。基本上，我们过去十年每年都能提升1个百分点的市场份额。你说得对，那时候我们还没有接入聚合平台，也没有推出芝心比萨，甚至还没有纽约风味比萨。
What we did have were the strongest economics for our four walls for franchisees. Supply chain pricing that let them keep consumer prices low and value high, and a large ad budget. And the ad budget is important because if you're going to squeeze percent margins, you want to throw a lot of volume kind of through that. And so essentially, the last decade, that's what we had going for us. And I just think we're adding to it.
但那时候我们拥有的是极具竞争力的门店经济模型，我们的供应链定价让加盟商可以保持低价格、高价值的组合，同时我们还有庞大的广告预算。广告预算很关键，如果你想维持利润率，你就得靠高销量来摊平成本。所以说，过去十年我们就是靠这些因素持续推进的。而我认为，我们现在是在这些基础上不断加码。
So we added last year, Uber Eats; this year, DoorDash; last year, New York Style; this year, Stuffed Crust. We have a brand-new loyalty program a couple of years in. And by the end of the year, we have a new e-commerce program. And none of these things are 1-year events, just like the last 10 years were a series of events that build on each other. And I said this in my opening remarks, we built this arsenal right now that I don't think we've ever been stronger.
去年我们新增了 Uber Eats，今年又接入了 DoorDash；去年推出了纽约风味比萨，今年是芝心比萨。我们的全新忠诚度计划也上线了两年左右，到年底还将推出一个新的电商系统。这些都不是一次性的举措，就像过去十年一样，是一系列相互叠加、持续发力的战略。我在开场时也说过，我们现在打造出了一整套“武器库”，我认为我们从未如此强大。
So yes, these things are new, but they're not going away, and they add to everything, all the pressure we can put on the competition and all the value we can give to customers.
所以，没错，这些事情都是新推出的，但它们不是昙花一现，它们会持续发挥作用，让我们对竞争对手施加更多压力，也能为顾客带来更大价值。
Operator
And our next question comes from the line of Dennis Geiger from UBS.
下一位提问者是来自瑞银的 Dennis Geiger。
Dennis Geiger
I wanted to ask a bit more on the U.S. sales outlook for the back half of the year specifically, and that reiterated 3% comp guide. You guys both gave some good color on what's working and how you think about what continues to work.
我想更详细地了解一下下半年美国市场的销售前景，特别是你们重申的3%同店销售增长指引。你们已经提到了一些有效的做法，以及你们对持续性因素的判断。
But anything more kind of on additional thoughts on the initiatives you've got, how they should hopefully help you to accelerate trends into the back half of the year? I know you touched on Stuffed and on DoorDash. Anything more there on what you're seeing and how that gives confidence to the back half as well as all the other initiatives around loyalty and the promotions and other things.
但能否再进一步谈谈你们有哪些举措预计将在下半年持续推动增长？我知道你们提到了芝心比萨和 DoorDash，还有没有其他你们观察到的信号能增强对下半年增长的信心？比如在忠诚度计划、促销活动等方面的措施。
Russell J. Weiner
Yes. Maybe, Sandeep, I'll start on this one. The initiatives that we can talk about for the second part of the year, one is already going on, which is Best Deal Ever. We're really leaning into value at a time that consumers want that from restaurants. And obviously, DoorDash. So we got to 100% of stores participating at the end of Q2, but we expect the majority of the volume push to kind of be in the second half of the year. I'll remind folks that DoorDash is about twice as big as Uber in pizza sales.
可以，Sandeep，这部分我先来回答。今年下半年我们可以谈的一项举措已经开始实施，那就是“有史以来最划算”的促销活动。在消费者高度关注餐饮性价比的时期，我们正大力投入“价值主张”。还有就是 DoorDash，我们在第二季度末实现了100%的门店上线，但我们预计主要的订单增长将集中在下半年。我想提醒大家，DoorDash 的比萨销量大约是 Uber 的两倍。
Sandeep Reddy
And I think I'll just add on to that, Dennis. You heard in the prepared remarks, I talked about the carryout performance in the quarter at 5.8%. We're incredibly pleased with what's happening with carryout. And I think it's really a testament to the loyalty program that Russell talked about earlier with Domino's Rewards. We continue to acquire more customers into that loyalty program, and we are seeing the frequency build compounding over time with the carryout business.
我补充一下，Dennis。你在前面的发言中也听到了，我提到了本季度自取业务增长了5.8%，这个表现非常令人满意。我认为这也验证了 Russell 之前提到的忠诚度计划 Domino's Rewards 的成效。我们不断吸引更多顾客加入这个计划，且从他们的消费频率看，特别是在自取业务中，已经形成持续叠加的增长势头。
So super excited because I think that's a lot of what we expect to come in the back half. I think both delivery and carryout are expected to be positive for the year. And we're not going to tell you exactly how much because I think the initiatives that we have are going to be a surprise to the competition.
所以我们对下半年非常期待，我认为外送和自取业务全年都将保持增长。当然我们不会透露具体数据，因为我们还有一些举措想给竞争对手一个“惊喜”。
Operator
Our next question comes from the line of Brian Bittner from Oppenheimer.
下一位提问者是来自 Oppenheimer 的 Brian Bittner。
Brian John Bittner
Yes, I'd like to go back to kind of David Palmer's question. It is the question that we just consistently get and the debate building is kind of what he alluded to, just that all the amazing things you're doing do create challenging laps in '26 and '27, and the work we've done specifically on DoorDash suggests that maybe this is a multiyear sales driver instead of perhaps creating tough comparisons.
是的，我想回到 David Palmer 提到的问题。这个问题确实是我们经常收到的，而且讨论也越来越多。他说的是，现在你们做的这些令人印象深刻的举措，可能会在2026年和2027年带来较难的同比基数。但我们自己对 DoorDash 的研究表明，它可能是一个持续多年的销售增长引擎，而不是一个只带来短期增长、之后带来难以超越的比较基数的工具。
And I'd just like you to maybe enter the debate on DoorDash specifically. How do you think about DoorDash as the years go by as being a growth vehicle? And why will it be?
我想请你们就 DoorDash 这个话题展开一下。你们如何看待 DoorDash 在未来几年成为持续增长动力的可能性？为什么你们会这么看？
Russell J. Weiner
Yes. Let me maybe break that into two parts. When you talk about the challenging laps, I think what you're talking about is kind of the amalgamation of some really good programs this year. And I talked about before, some really strong programs for the last 10 years.
好的，我可以分两部分来说。你提到的“难以超越的同比基数”，我理解是因为我们今年推出了一系列表现非常强劲的项目，而在此之前我们也已经连续十年推出了很多高质量的举措。
What I think is important to understand is we compete in a category that's grown 1% to 2%, essentially over the last, as long as I've been working in pizza. So with that category growth and with us being, call it, almost 1/4 of pizza, there is a lot more for us to gain. And so I think about this, certainly what we need to lap and we're lapping, I think, a strong program we had last year. But the strength, building on strength, building on strengths actually makes it a lot more difficult for the competitors to compete over time. And especially when you look at store level economics, I think the longer both sides are trying to deliver this kind of value to customers, the harder it is to sustain.
一个很重要的背景是，我们所处的品类——比萨市场，长期年增长率其实只有1%到2%，这是我从业以来看到的水平。而我们目前的市场份额已经接近整个比萨市场的四分之一，还有很大的成长空间。确实，我们必须面对高基数的挑战，比如去年就推出了很强的举措，但“强上加强”的积累本身也会让竞争对手越来越难以追赶。特别是在门店层面的盈利模型上，越是双方都在拼价值，越难长时间维持这种强度。
And so I think it's important to look at us. Certainly, we have to lap and we've got programs to do that, but we're competing in a category that I think we're a lot stronger than other folks with really not what I'd call a #1 market share, #1 usually in categories and restaurants are 40%, 50%. And so I think you guys just look at it holistically when you think about our future growth.
所以我认为，观察我们要从全局出发。虽然我们也要面对高基数，但我们所在的品类中，我们的竞争力远超其他公司。我们现在的市场份额还没有到真正意义上的“第一”：在其他餐饮品类中，第一名的市场份额通常是40%、50%。所以当你们思考我们未来的增长时，我建议从整体角度去看。
As far as DoorDash, our plan both for Uber and DoorDash is we think we should have our fair share on these platforms. And so that means we got a lot to go on DoorDash and we've got more to go on Uber. And per my last point, we're going to continue to grow market share over the next few years. So that number is always going to increase. I don't think it's far-fetched to say that we should have the same or similar market share on aggregators as we do outside.
至于 DoorDash，我们对 Uber 和 DoorDash 的目标是一致的：我们认为我们应该在这些平台上拥有“公平份额”。这意味着我们在 DoorDash 上仍有很大增长空间，在 Uber 上也是如此。回到我刚才讲的重点——我们在未来几年会继续扩大市场份额，所以这个数字是不断上升的。我并不认为我们在聚合平台上达到与传统渠道相当的市场份额是一个遥不可及的目标。
Sandeep Reddy
Yes. And I'm going to add one thing to this, which I think is supercritical. We just talked about in the prepared remarks that essentially, the pizza QSR market is roughly flat, and we grew retail sales by 5.1% in that quarter. That just really puts an exclamation point on exactly what Russell is saying. And with all the tools at our disposal, starting with best-in-class economics for the franchisees, that ad budget is actually significantly higher than anybody else. The supply chain profits that we continue to generate and drive into the franchisee P&L, there's every reason to believe we'll continue to take share.
是的，我想补充一个我认为非常关键的点。我们在前面的发言中提到，整个快餐比萨市场大致持平，而我们在这一季度的零售销售额增长了5.1%。这正好印证了 Russell 刚才讲的内容。而且我们现在手头拥有大量资源工具——从行业领先的加盟商经济模型开始，到远高于竞争对手的广告预算，再到我们持续为加盟商利润表创造并注入的供应链利润——所有这些都让我们有充分理由相信我们将持续获得市场份额。
And I think a lot of the same-store sales growth that you're going to be seeing is us taking share from the competition as they keep actually losing market sales to us and closing stores, which you've actually seen over the last decade.
我认为，你们未来看到的很多同店销售增长，其实都是我们从竞争对手那里“抢”来的市场份额——他们不断把销售额输给我们，并在过去十年中关闭了大量门店，这些都是有目共睹的。
Russell J. Weiner
And just maybe finally, when we talk about in Hungry for MORE, most delicious food, we talked about doing two new product launches a year. Not saying we'll never do LTOs, but we don't really have a big history of doing LTOs. And the big reason is when we do the research, we've launched products that we think are going to stick around for a while and we think are going to grow for a while that we think we're going to help us take market share. And so when we look at New York Style and we look at Stuffed Crust, these are not LTOs. And maybe that's something -- another thing to add to just the discussion around this.
最后我也补充一点，我们在“Hungry for MORE”战略中的“最美味食品”部分提到，每年我们推出两个新产品。不是说我们完全不做限时促销（LTO），但我们的确没有做 LTO 的传统。原因很简单——我们的产品是经过调研精心推出的，我们认为这些产品能在市场上长期存在并持续增长，同时帮助我们获取市场份额。所以当我们谈到纽约风味和芝心比萨时，它们都不是 LTO。也许这是在这场讨论中值得加入的一个维度。
If these were LTOs, yes, I'd be worried about maybe how do you lap them because whatever LTO this year, next year's has to be bigger. And at some point, you get smaller ideas, but these things aren't going away. And they're major pieces of share within the marketplace that we go after for a long time.
如果这些产品是限时促销，我确实会担心如何在下一年超越它们的表现——因为今年做了一个 LTO，明年就必须搞一个更大的，但你终究会碰到“创意枯竭”的时刻。但我们这次推出的产品不是昙花一现的 LTO，而是长期在市场中争取份额的重要产品，我们会长期投入下去。
Operator
And our next question comes from the line of Danilo Gargiulo from Bernstein.
下一位提问者是来自 Bernstein 的 Danilo Gargiulo。
Danilo Gargiulo
I'd like to extend the same line of thinking on market share gains in international markets. So maybe, Russell, if you think about your top 5 markets, can you give us a little bit more color on the state of competition over there? And I remember maybe a year or so ago, you were talking about the adoption of the MORE strategy yet to be deployed by other master franchisees. So what is the progress on that standpoint?
我想把市场份额提升的讨论延伸到国际市场。所以 Russell，能否请你就你们的前五大国际市场，稍微介绍一下那边的竞争格局？我记得大约一年前你曾提到，"Hungry for MORE" 战略还未在所有主特许经营商中全面铺开。那现在的推进情况如何？
Russell J. Weiner
Thanks, Danilo. Yes, I think the best one that I'll point to is India. I think you can clearly see their success when they report their numbers.
谢谢 Danilo。我想最具代表性的例子就是印度市场。你从他们公布的财报中可以清楚看到他们的成功。
And what's driving their success? It's really all the elements of Hungry for MORE. When you look back at their last results, what did they report on most delicious food? They had the Volcano pizza, a couple of other new products. On operations excellence, they're really pushing for 20-minute delivery times and in many cases, guaranteeing that to customers. So that's the O. Renowned value, they took away their delivery fee because they realized they could drive more volume on that way. And they are truly, Jubilant, the best-in-class franchisees that we've got out there. So every single piece of Hungry for MORE, they are adopting. And when that becomes successful, that begets other folks continuing to drive Hungry for MORE.
他们成功的动力是什么？其实就是“Hungry for MORE”战略的所有要素。在“最美味食物”方面，他们推出了火山比萨等几款新产品；在“卓越运营”方面，他们大力推动20分钟送达，很多时候还能向顾客做出承诺，这就是“Hungry for MORE”里的“O”；在“著名的价值”方面，他们取消了配送费，因为他们发现这样可以带来更高的订单量。而我们的印度特许经营商 Jubilant，确实是我们体系中最出色的加盟商之一。他们在全面实施 Hungry for MORE，每一项都做到位。当一位加盟商做成功了，也会带动其他市场继续推进这项战略。
Sandeep Reddy
Yes. And I'll add, Danilo, India is a fantastic story that we've talked about. The Canadian performance this year, which has been fabulous. And they've launched Stuffed Crust just like we did in the United States and take up on that has been fantastic. And I think even ALSEA has been doing well in Mexico.
是的，我来补充一下，Danilo。印度市场是一个非常出色的案例，我们谈过很多。今年加拿大市场的表现也非常出色。他们像美国一样也推出了芝心比萨，而且市场反响非常好。我认为，就连 ALSEA 在墨西哥的表现也非常不错。
Russell J. Weiner
Yes, Mexico has great value.
是的，墨西哥市场的价值主张非常强。
Sandeep Reddy
So I think across the board, we're seeing a lot of adoption of the Hungry for MORE strategy. And I think with the progress of time, you'll see even more of it.
所以整体来看，我们看到“Hungry for MORE”战略正在全球多个市场被积极采纳。随着时间的推进，这一趋势还会进一步扩大。
Operator
And our next question comes from the line of David Tarantino from Baird.
下一位提问者是来自 Baird 的 David Tarantino。
David E. Tarantino
My question is on international unit development. And I know you guided this year net openings to be similar to last year. And that is reflecting a growth rate that's lower than your long-term target. So just wondering if you're starting to get line of sight beyond this year to getting towards that longer-term goal of 6% or higher.
我的问题是关于国际市场门店扩张的。你们预计今年的净增门店数量将与去年相当，而这意味着增长速度低于你们长期设定的6%或以上的目标。所以我想了解一下，现在你们是否开始看到有望在未来回到这个长期增长水平的迹象？
I know this year is weighed down by some closures, but just wondering if we're starting to get to a point where those are behind you and you're going to have the growth that you expect longer term?
我知道今年的增速受到部分门店关闭的影响。但我想知道，这种影响是否即将过去，你们是否开始接近恢复长期预期增长的节奏？
Sandeep Reddy
So David, I think on international unit development, really speaking, outside of DPE, we're really comfortable with where things are going, and they're tracking to the plans that we had. Both in India and China, we're expecting to see significant growth. I think Jubilant talked about for their fiscal year 250 stores in India. And I think China has talked about 300 stores for the current fiscal year. So that's a pretty material opening plan.
David，我认为就国际门店扩张而言，撇开 DPE（Domino’s Pizza Enterprises）的市场之外，我们对整体进展感到满意，基本都在按我们既定的计划推进。印度和中国两个市场的增长尤其显著。Jubilant 曾表示，他们在本财年计划在印度新开 250 家门店，而中国市场今年的目标是新开 300 家门店。这是非常具有规模的扩张计划。
And I think outside of those two markets in the -- excluding DPE markets internationally, things on balance are going to plan. So we feel pretty good with where things are at. And frankly speaking, with what visibility we have beyond '25 into '26, we feel pretty good about that, too.
在印度和中国以外，去除 DPE 市场的其他国际市场整体也在按计划推进，因此我们对现状感到相当满意。坦率讲，就我们目前对2025年之后、2026年市场的可见性而言，我们同样感到有信心。
I think specific to DPE, we actually knew about the store closures that were going to be happening in Japan this year, and they happened in Q1.
关于 DPE，我们其实早就知道他们在日本的门店今年会有关闭的计划，而这部分门店确实已在第一季度关闭。
And based on events that have happened in the last few weeks, I think their Executive Chairman has reiterated that the strategic plan that was outlined by the previous CEO is still very much on track, but they continue to do evaluations of where things are at, and they may come back with more color as we go forward.
根据过去几周发生的情况来看，DPE 的执行董事长已经重申，前任 CEO 所制定的战略计划仍在持续推进当中。他们也在持续评估整体进展，未来可能会提供更多的更新信息。
But I think pending any further updates, the plans that we had at the last quarter when we actually talked to you haven't really changed, either for '25 or even for '26, but we just need to continue to work with their teams to get more clarity on where DPE is going.
在没有进一步变化的前提下，我们在上一季度向你们沟通过的计划对2025年乃至2026年都没有实质性的变化。我们需要继续与 DPE 团队合作，以进一步明确他们的扩张方向。
Probably a little bit less so on the closures, more so on the opening plan because I think that was a part of the projection that we didn't have clear, even the last time when we spoke, and there's more work to be done on that.
目前可能关闭门店的担忧较少，更关键是他们的开店计划。因为这部分我们在上次交流时也没有特别明确，仍有不少工作需要推进。
And it really ties back to unit economics of the stores because I think without unit economics being strong and that also is driven by same-store sales consistently being positive, then that opening plan becomes something that's a risk for them, and we're working with them to resolve that.
这也与门店的单位经济模型密切相关。因为如果单位经济效益不足，特别是同店销售缺乏持续的正增长支撑，那么扩张计划对他们来说就是有风险的。我们正在与他们合作，努力解决这一问题。
Operator
[Operator Instructions] And our next question will come from Gregory Francfort from Guggenheim.
[接线员指令] 接下来提问的是来自 Guggenheim 的 Gregory Francfort。
Gregory Ryan Francfort
My follow-up question was the last one. Just on the international business. Sandeep, last quarter, you expressed, I guess, some caution on the international consumer for the balance of the year. It sounds like that's not what played out this quarter. I guess I'm curious, as you look to the second half, do you still expect some caution there? And maybe what played out differently versus plan on the comps in the quarter?
我的跟进问题还是关于国际业务的。Sandeep，你在上个季度曾表示对下半年国际消费者环境持谨慎态度。但从本季度来看，似乎情况没有你预期的那么悲观。我想问的是，你现在在看下半年时是否仍持谨慎态度？另外，本季度的同店销售表现和你们原先的预期相比，有哪些出入？
Sandeep Reddy
Yes. No. So I think, Greg, when you -- if you go back to the prepared remarks, I talked about the fact that international same-store sales at 2.4% was in line with our expectations. So we did expect a sequential deceleration from the first quarter to the second quarter. So 3.7% was Q1. 2.4% was Q2.
是的，Greg，我想说的是——如果你回顾我们前面的发言，我提到国际同店销售增长为2.4%，这与我们的预期一致。我们确实预计从第一季度到第二季度会有一定的环比放缓，第一季度是3.7%，第二季度是2.4%。
We still are talking about the potential for the macro and geopolitical overhang in the back half. Now if we don't see that overhang materialize as we kind of go through the back half, then potentially, there could be a bit of upside to this. But it's too early to tell. And frankly speaking, the sequential deceleration that we expected is exactly what we saw in the second quarter. So it really hasn't been a change in our expectations relative to where we were in April when we talked to you.
我们仍然认为下半年存在宏观和地缘政治不确定性带来的潜在压力。如果这些风险最终没有实质显现，那么下半年可能会有一定的上行空间。但现在判断还为时尚早。坦率地说，我们本季度看到的环比放缓，正是我们当初所预期的。所以跟我们4月份跟你们沟通时的展望相比，实际上并没有发生变化。
Operator
Our next question will come from Peter Saleh from BTIG.
下一位提问者是来自 BTIG 的 Peter Saleh。
Peter Mokhlis Saleh
Great. Russell, I just wanted to ask, you mentioned that as long as you've been in this industry, the category has been growing 1% to 2% per year. But the first half of the year so far has been flat with some pricing, which implies some negative traffic. So curious if you can comment on why you think the pizza category is struggling a little bit here at flat. And just if you can provide a little bit of context on income by cohort, that would be helpful. And any thoughts on -- do you anticipate the full year to be for the pizza category to still be in that 1% to 2% implying better back half? Or how do you think about that going forward?
好的，Russell，我想请教一下。你提到，在你从业的这段时间里，比萨品类每年的增长率大约是1%到2%。但今年上半年整体是持平的，考虑到有一定的提价，这也就意味着客流量是负增长的。你认为为什么比萨品类现在表现有些疲软？另外，如果你能就各收入层级的消费者表现提供一些背景信息会很有帮助。你是否预期全年比萨市场仍能实现1%到2%的增长，也就是下半年表现会更好？你怎么看待这一趋势？
Russell J. Weiner
Yes. Yes, sure. Obviously, we're in this for the long haul, and 1% to 2% is what the category has done. There are headwinds within all of QSR. I think if you look at burger category growth, it's probably going to be pretty similar. And so for me, Peter, the important thing is to understand these things come in cycle, and they will return to kind of traditional growth numbers would be my assumption.
当然可以。很明显，我们做的是长期生意，而比萨品类过去的确是以每年1%到2%的速度增长。现在整个快餐行业（QSR）都面临逆风，比如汉堡类的增长可能也差不多。所以我认为，Peter，重要的是要意识到这些都是周期性现象，我相信增长会回归到它的历史平均水平。
But I think the important thing is to see how we grow even during tough times. And when you think about where the category is and you think about what our results were for the quarter, and all the upside with all the share that's left to take, this is our performance during times where there are some category headwinds. Then when the category has tailwinds, that's only going to help us.
但更重要的是，即使在市场艰难时期，我们依然能实现增长。当你看看整个品类的表现，再看看我们本季度的成绩，以及我们还有多少市场份额可以争取，就会发现：我们是在行业逆风期实现了这些成绩。如果行业进入顺风期，那只会进一步助力我们的增长。
And I'd let you know that we kept our 3% same-store sales. That's our 3% plus for the U.S. It's this year, it's next year despite what the category does. And I think maybe I'll add to that a little bit. I know this wasn't a direct question, but it maybe goes off some of the questions earlier.
我还想补充一点，我们维持了全年美国市场3%以上的同店销售增长预期，不仅是今年，明年也是如此，无论整个品类的表现如何。我知道你并没有直接问这个，但我想顺带回应一下之前的一些问题。
I think the important thing to understand right now is whether it's pizza or burgers or QSRs in general. There is pressure because consumers are looking for value. And what you're seeing is a restaurant industry where we're providing a lot of value. The big difference with Domino's is when we provide value, we're going on offense. We're doing it because we think we can grow. And I think other folks are doing it because they're on defense and a little bit treading water, how much longer do we need to do value? We're prepared, we're built to do this.
我认为当前关键的问题是：不论是比萨、汉堡，还是整个快餐行业，压力都在于消费者现在更加追求“性价比”。整个餐饮行业都在努力提供更多的“价值感”。但达美乐的不同在于，我们是在“主动进攻”——我们提供价值，是因为我们相信这能带来增长。而其他品牌是在“被动防守”，只是为了维持生意、观察是否还能再撑一段时间。我们是有准备、有能力、也有结构优势去打这场“价值战”的。
So right now, there are headwinds. But actually, the headwinds, I think, are tailwinds for us. It is kind of a long answer to a short question. And then income by cohort was your other piece. And at least at Domino's, we've seen growth among all the cohorts, including the low-income cohort in Q2.
所以虽然当前是行业逆风期，但对我们来说，这种逆风实际上是顺风。这是一个比较长的回答来回应你的一个简短问题。至于你问的收入层级细分情况，在达美乐，我们第二季度看到各个收入层级的客户群体都实现了增长，包括低收入群体。
Operator
Our next question will come from Andrew Charles from TD Cowen.
下一位提问者是来自 TD Cowen 的 Andrew Charles。
Andrew Michael Charles
Russell, maybe just a follow-up or similar to last question, notwithstanding your long-term bullishness on the pizza category, I want to see if Domino's has an opportunity in your view to dive deeper into the faster-growing chicken category we already play. But could we see Domino's play deeper in the chicken category, not just from menu innovation and marketing, perhaps from other product upgrades or new equipment like fryers ultimately?
Russell，我想追问一个和上一个问题类似的话题。尽管你长期看好比萨这个品类，我想知道在你看来，达美乐是否也有机会更深入地切入鸡肉这个增长更快的品类？我们其实已经在这个领域有一定布局，但未来是否会加大投入？不仅是菜单创新和营销，也包括产品升级，甚至引入像油炸机这样的新设备？
Russell J. Weiner
Yes, Andrew, we -- obviously, we have a pretty diverse menu. We actually had a chicken window in Q1 with loaded chicken. We're always listening to what consumers want. And as we said, we try to -- we're in the permanent product game. So we sell a lot of chicken today. If there are opportunities to make that significantly better, obviously, we're always going to listen.
是的，Andrew。我们目前的菜单其实已经相当多样化了。事实上我们在第一季度就推出过以鸡肉为主打的时间窗口，比如 Loaded Chicken（满料鸡肉）。我们一直在倾听消费者的需求。就像我们之前说的，我们的重点是打造“长期在菜单上的产品”。现在我们鸡肉类产品的销量已经很不错了，如果有机会进一步优化、升级，我们当然会认真考虑。
You did bring up something, a good point that I'll just follow up on that the question of, hey, could there be another cooking platform in near future? And if there was, obviously, we'd be talking about it. But this is more of a kind of what would you need to think? And you need to think that there's room in a store for another cooking platform. You brought up fryers, whatever it would be, if we chose to go that way. What you would need is you need more room in the stores.
你提到的一个关键点我想特别回应一下：是否可能在不久的将来引入另一种烹饪平台？如果我们真的要走这条路，当然会公开讨论。但这首先要考虑一些基础条件，比如门店是否有空间容纳新的烹饪设备。你提到油炸机，如果我们真的考虑引入类似设备，那么前提就是门店得有足够的空间。
And the fact is the reinvention of our circle of operations, no more box folding in the back, all that stuff, we've got more room in the stores. You need a system like we have with DOM OS to be able to say, hey, if there is a second cooking platform, how do you line that up with things coming out of the regular over?
事实上，我们最近对门店运营流程进行了重构，比如取消了后台叠纸箱的环节，腾出了更多空间。我们还有像 DOM OS 这样的运营系统，它能帮助我们思考：如果真有第二个烹饪平台，该如何与传统烤箱的出品节奏整合协调？
So nothing to talk about right now, but what I'd say is we're prepared to do whatever consumers think that we should be doing, we should be offering them in the long term.
目前还没有什么具体可以公布的内容，但我想说的是，只要消费者认为我们应该做、应该提供的东西，从长远来看我们都已经有能力去应对和实现。
Operator
Our next question will come from Jon Tower from Citi.
下一位提问者是来自花旗银行的 Jon Tower。
Jon Michael Tower
Great. Maybe I was just going to ask, roughly earlier, you hit on the idea of the e-commerce platform and how it's rolling out this year. And I'm just curious in the stores where you've already rolled it out. Can you talk about any sort of behavioral differences in the consumers who've moved over to it versus the legacy platform and what you've seen in terms of either consumer response or even at the store level, how operations have performed at those stores that have adopted it?
好的。稍早你提到了今年正在推广的新电子商务平台。我想了解一下，在那些已经上线新平台的门店中，消费者使用新平台后的行为是否有明显不同？比如他们与旧平台的使用习惯是否有变化？你们是否观察到消费者反馈或门店运营层面有不同表现？
Russell J. Weiner
Thanks, Jon. Yes, we finished building the platform last year. And so as we enter this year, what we're doing is simultaneously testing the old platform with new platform. And the -- then you look at things like conversion and sales and all that. And when the new site performs better than the old site, we increase and we have more customers going through that site.
谢谢，Jon。是的，我们在去年就完成了新平台的建设。今年我们正在做的是新旧平台的同步测试，然后评估像转化率、销售额等各方面的表现。当我们发现新平台的表现优于旧平台时，就会扩大推广范围，让更多客户进入新平台。
And what I can tell you, we've got more customers this month than we did the prior month than we did the prior month. So things continue to proceed the way we want it to. And these are improvements off what I think is still one of the best e-commerce platforms in the business.
我可以告诉你的是，我们这个月的客户数比上个月多，上个月又比再上个月多——也就是说，一切都在按我们期望的节奏推进。而且这些是在我们原本就已经非常出色的电商平台基础上进一步提升的结果。
Sandeep Reddy
And Jon, I'll just add that with us being 85% digital, I think it's very important for us to be very measured and cautious as we're rolling it out to just make sure that there's no disruption in the transition as we're rolling out on the e-commerce platform. Everything is on plan, everything is on track. This was exactly what we wanted to do.
Jon，我再补充一下。我们目前85%的业务是数字化的，因此在推广这个新电商平台的过程中，我们非常重视稳步推进、谨慎实施，确保整个过渡过程不出现任何运营干扰。目前一切按计划进行，节奏符合预期，这正是我们希望达成的状态。
Operator
Our next question will come from Chris O'Cull from Stifel Financial Corp.
下一位提问者是来自 Stifel 金融公司的 Chris O'Cull。
Christopher Thomas O'Cull
Stifel Financial Corp.
你们过去几个季度都提到采购效率是供应链利润增长的主要驱动因素。能否进一步说明促成这一效率提升的关键因素？另外，在接下来的时间里，我们是否需要开始考虑到这些改进逐渐进入同比比较基数后，对该部门利润增长带来的影响？
Sandeep Reddy
Thanks, Chris. And look, I mean, I think as far as we're concerned, it's not just been this year, but I think the last 2, 3 years, we've been seeing procurement productivity. We have a fantastic procurement team led by our Chief Supply Chain Officer that's delivering all this value that's coming through. Obviously, a significant part of our cost structure is food, but there's much more beyond that as well. And I think that's what the gains have been, and we did get the benefits of that in '23 and '24. And I think even this year, with the agreements that we had lined up with suppliers, we knew that we're going to get a bit more this year as well.
谢谢你，Chris。其实不仅仅是今年，我们在过去两三年里一直在实现采购效率的提升。我们拥有一支非常优秀的采购团队，由我们的首席供应链官领导，为公司带来了巨大的价值。当然，我们成本结构中占比最大的是食品原材料，但除了食品之外，我们也在其他方面取得了效率提升。我们在 2023 和 2024 年都已经受益于这些改进，今年我们与供应商提前谈好的协议也让我们预期今年还能进一步受益。
The great news about all of this is, everything is in the base, and we're building on the base. So just because we've achieved this incremental productivity, it doesn't mean it goes backwards. But I think the pace at which we've been building it up, because we've had such good years of procurement productivity, I wouldn't say that this is a normal incremental assumption you should be making on procurement product. We'll be doing everything we can to drive more, but the magnitude probably will start tapering as we move forward.
好消息是，这些提升成果已经全部体现在当前基准水平上，我们正是在这个基础上继续向上推进。所以说，虽然我们取得了这些额外的效率成果，但它不会回撤。然而我也想指出，过去几年我们在采购效率上取得了非同寻常的成绩，因此未来不应再以相同幅度作为常规增长预期。我们当然会继续努力争取更多提升，但未来这方面的增长幅度可能会有所放缓。
Operator
Thank you. Our next question will come from John Ivankoe from JPMorgan.
谢谢。接下来的问题来自摩根大通的 John Ivankoe。
John William Ivankoe
Obviously, the system was really built on delivery drivers, managers that became franchisees, very entrepreneurial system. I think, correct me if I'm wrong, I think the average franchisee has 10 stores, but typically smaller in nature. So I wanted to bring up the point of you refranchising a company market, 36 stores, I think, to one franchisee. Is it kind of a maybe a philosophical change of bigger, more professional franchisees that have their own development teams access to different levels of financing, what have you.
很明显，达美乐的加盟体系是建立在送餐员、门店经理成长为加盟商的基础上的，是一种非常有企业家精神的体系。如果我没记错的话，现在平均每位加盟商大约拥有10家门店，规模通常较小。那我想问的是，你们这次把一整个市场、36家门店一次性转让给一位加盟商，这是否代表你们在战略上发生了转变？比如开始倾向于规模更大、更专业的加盟商，他们拥有自己的开发团队、可以获得不同层级的融资等？
Do we have an opportunity to maybe consolidate some franchisees that have maybe been in the system, 20, 30, 40 years, getting them into bigger systems that can maybe either maintain or even accelerate some of the U.S. growth over time? How are we feeling about the overall composition of the franchise system and how that might change or evolve in the next 3 to 5 years?
我们是否有机会整合一些已经在体系中经营了20、30、40年的加盟商，让他们融入到更大规模的系统中，从而维持甚至加速美国市场的增长？你们如何看待目前整个加盟商结构的构成，以及未来3到5年中这一结构可能出现的变化或演化？
Russell J. Weiner
Thanks, John. Yes. Look, franchise system strength is measured by, I think, two things. One is the strength of the relationship, and I don't think it's ever been better between franchisee and franchisor, and then the unit economics. And to your question before, the average franchisee has 9 stores. So you multiply that by the [ $162,000 ] EBITDA, that's pretty nice cash flow for the average franchisee. We have larger franchisees and smaller franchisees.
谢谢你，John。是的，我认为评估一个加盟体系是否强大，主要看两个方面：第一是加盟商与总部之间的关系强度，我认为现在这方面比以往任何时候都更好；第二是门店的经济模型。回应你刚才的问题，目前平均每位加盟商拥有9家门店。每家门店的年 EBITDA 大约是16.2万美元，整体现金流对加盟商而言是相当可观的。我们的体系中既有大型加盟商，也有小型加盟商。
Interesting enough, the person we sold to in Maryland, Suha Unal, who's been with Domino's for 2 decades. He's worked for a franchisee. He's worked at corporate. He's worked at international. It's just a great Domino's story. He's become a new franchisee.
有趣的是，这次在马里兰我们转让的36家门店的接手人 Suha Unal，其实已经在达美乐体系中工作了二十年。他曾在加盟商体系中工作，也曾在公司总部工作，还在国际市场工作过。他是一个典型的“达美乐成长故事”代表，现在成为了一名新的加盟商。
So it's not someone who had the average of 9 stores that moved up to that degree. It's someone who came in new. And each example is really kind of a snowflake. So in this case, when you look at where the stores were for each other, it's the best way to manage it was one franchisee and Suha will do a great job there. But you're not seeing any big departure and strategy.
所以这不是一个从拥有9家门店逐渐扩张的加盟商，而是一位“新加入”的个体。实际上每一个案例都是独一无二的。在马里兰这个案例中，从地理分布角度来看，由一位加盟商统一管理是最优方案，而我们相信 Suha 会把这项工作做得非常出色。但这并不代表我们在战略层面有了大的转变。
And what I'd say is, I like the way that our franchise system is really diverse, because it also means there's no particular concentration risk, let's say, on one side or the other. It really lets us continue to do what's best for the overall brand, and I think if you have too many large franchisees, maybe that's a little bit more difficult.
我想说的是，我很欣赏我们目前这种多元化的加盟结构。因为这意味着我们的系统中不存在某一方过于集中的风险。这样的结构让我们始终可以做对整个品牌最有利的事。而如果你拥有过多的大型加盟商，反而会让这一点变得更难实现。
Operator
Our next question will come from Sara Senatore from Bank of America.
接下来的提问来自美国银行的 Sara Senatore。
Sara Harkavy Senatore
A quick follow-up and then I have to ask on margins, of course. On the follow-up, I don't know if you gave the mix of 3P, but I was wondering if you're continuing to see growth in Uber, even as you've rolled out Dash. I think that was something that kind of the overlap might be a question that we've heard.
我有一个快速跟进问题，然后当然也想问一下你们的利润率表现。首先关于跟进的问题，我不确定你们是否披露了第三方平台（3P）的销售占比。但我想知道，在你们已经上线 DoorDash 的情况下，Uber 的业务是否依然在增长？这个平台之间的重叠可能是我们听到的一些疑问点。
And then the question I have is about the margin components. You continue to price below inflation, which certainly I think would -- is helpful. To the extent that you have like a pricing strategy going forward, will that kind of always be the case that the goal is to price, I think, below food away from home inflation or below your own inflation? Just trying to think about -- I understand your profit dollars we've talked about is the primary focus as it should be, but thinking about the margin rate and how much faster you might have to grow revenues, to maintain that -- the returns given where the margin rates are for you and franchisees?
我的主要问题是关于利润率构成。你们的定价策略一直是低于通胀水平，这确实有助于吸引消费者。那展望未来，你们是否会始终坚持这种策略？也就是说，目标是让价格增幅低于“外出就餐”的通胀，或低于你们自身的成本通胀？我理解你们以利润“总额”为主要关注点，这是合理的。但我也在思考利润率的问题——在你们和加盟商目前的利润率水平下，为了维持回报，收入可能需要增长得更快，对此你们怎么看？
Sandeep Reddy
Sara. So I think I'll just take there's two different questions to your point, right? So the first was 3P mix and comps. We're not going to be talking about mix specifically, as we talked about on the Q4 call and maybe on the Q1 call. But we're really happy with where Uber is. Uber has continued to track to our expectations. Thrilled a bit with where that's going. And really happy that we've rolled out DoorDash. And I think by the end of the quarter, we actually did roll out DoorDash, but DoorDash had a very modest impact on the Q2 comp. But the real or material impact is expected to come in the back half as we're -- now that we have fully rolled out on DoorDash.
Sara，我来分两个部分回答你的问题。首先是关于3P平台的销售占比和同店销售贡献。我们不会具体披露第三方平台的销售占比，这在我们Q4和Q1的电话会上也说明过。但我可以说，我们对 Uber 的表现非常满意，它的增长完全符合预期，对此我们感到非常振奋。我们也非常高兴 DoorDash 已经成功上线。在第二季度末我们已实现 DoorDash 的全面上线，但它对Q2同店销售的直接影响还比较温和。真正有意义的推动将出现在下半年，因为 DoorDash 已经全面投入运营。
So overall, really pleased about the delivery comp. It came from better performance, both in our own channel as well as in 3P, and pleased with where it's going as we move to the back half of the year.
总体来看，我们对外送业务的同店销售增长感到非常满意，增长来源既包括我们的自有渠道，也包括第三方平台。我们对其在下半年的前景非常乐观。
And then I want to switch to your question on margins, specifically on the pricing and our pricing below inflation and rate versus dollars.
接下来谈谈你关于利润率的问题，特别是关于定价策略、低于通胀的定价方式，以及“利润率”与“利润总额”之间的权衡。
Philosophically, I think we've been very consistent, definitely since the time I've been here and even prior, where in the end, we want to make sure that we drive our profit dollars to the franchisees and actually make sure that they continue to see that health coming through. The key over here is back to what Russell talked about on the first answer that he gave. We have best-in-class franchisee economics. So let's start there.
从理念上讲，我们一直非常一致，至少从我加入公司以来甚至更早就是如此——我们始终致力于推动“利润总额”的增长，让加盟商持续感受到健康可持续的盈利能力。这里的关键，还是回到 Russell 在一开始提到的——我们拥有行业领先的加盟商经济模型，这才是出发点。
Then you layer into that the fact that we have the biggest ad budget within pizza QSR that gives us enormous marketing muscle to actually out-advertise the competition. We have the biggest supply chain with fantastic economics, which, again, with our profit-sharing mechanism gets pushed into the franchisee P&L.
进一步说，我们在比萨快餐行业拥有最大的广告预算，这给了我们巨大的营销优势，能在广告投放上超越竞争对手。我们还拥有规模最大的供应链，具备极强的经济效率，并且通过利润分享机制，把这些优势转化为加盟商的收益。
And when you put all this together, as far as we are concerned, this is a long-term market share gain. Going back 10 years, our pizza national competitors have closed close to 2,000 stores and we've opened close to as many. So as far as we're concerned, that is the model. That is the economic model.
把这些因素综合起来，我们认为这就是我们的长期市场份额获取逻辑。回顾过去十年，我们的全国性比萨竞争对手总共关闭了将近2,000家门店，而我们几乎开出了同样数量的门店。在我们看来，这就是我们的盈利模型，这就是我们的核心商业逻辑。
We focus on getting better, best-in-class economics to our franchisees. We use all the tools in our arsenal from our advertising budget and a supply chain perspective to enable them to outcompete the competition because we have way more room in our P&L with the modest pricing that we're taking to deliver great value to our customers, which is what we've been consistently doing over the last decade, and we will be doing it for the foreseeable future.
我们始终关注如何为加盟商提供最优质的盈利模型。我们动用所有手中的工具——从广告预算到供应链——帮助他们在市场上击败竞争对手。我们的利润表有更大的缓冲空间，可以承受温和的价格策略，持续向消费者传递“高价值”的品牌认知。这正是我们过去十年所坚持做的事情，也是我们在可预见的未来将继续坚持的战略方向。
And if we do end up pricing below inflation, fantastic because I don't know that the competition is able to do that with where their P&Ls are at.
如果我们最终能做到定价始终低于通胀，那就太好了。因为以竞争对手当前的利润表结构，我不确定他们是否也有能力这么做。
Russell J. Weiner
And Sara, maybe it's just helpful to think about what the principles we have are behind pricing, at least promotional pricing. In no particular order, to me, one of them is consistency. Consumers don't want whiplash. And if you look at our mix and match deal, we launched it at $5.99 in 2009, and we changed it to $6.99. That's pretty consistent.
Sara，也许我们可以从定价背后的基本原则来看问题，至少在促销定价方面。按重要性无先后，我认为第一个原则是“一致性”。消费者不喜欢价格忽高忽低的“抽鞭子式”波动。比如我们的“任搭任选”优惠组合，2009年推出时是5.99美元，之后调到6.99美元，到现在都保持得非常稳定，这就是一种一致性的体现。
Two is, the way we come up with pricing is through quantitative research that maximizes two things, franchisees' top line and bottom line. It's really important to know that order count growth is much more correlated to profit growth than ticket growth.
第二，我们的定价是基于量化调研制定的，目标是同时最大化加盟商的“营收”和“利润”。这里有一点非常关键：订单量的增长与利润增长的相关性远高于客单价的增长。
The third is, we try to make sure that when we increase prices, they are at or below consumer income growth. If consumers aren't getting a raise, they don't want you to. They're pretty clear on that.
第三，我们在提价时会确保价格增幅不超过消费者的收入增幅。如果消费者没有涨工资，他们也不希望你涨价。这一点，消费者表达得非常清楚。
And then I think the fourth for me is really what we changed in 2023, moving from Value to Renowned Value. It's not just about the price, it's about value that drives top value. And so if you want to know what we're going to do on price, if you think about those four principles, that will give you a pretty clear map.
第四点对我来说是我们在2023年进行的转变——从“Value（价值）”转向“Renowned Value（著名的价值）”。这不仅仅是价格的问题，更是提供消费者真正感受到“物超所值”的价值感。如果你想知道我们未来会怎么定价，只要记住这四条原则，基本就能预测我们的方向。
Operator
Our next question will come from Christine Cho from Goldman Sachs.
下一位提问者是来自高盛的 Christine Cho。
Hyun Jin Cho
I was wondering if you can share kind of a rough sense of what percentage of the orders were tied to a deal or a promo and how that has trended over time, both for Domino's specifically and across kind of the broader pizza industry?
我想了解一下，大致有多少订单是与优惠活动或促销有关？这一比例在达美乐以及整个比萨行业中，随时间的变化趋势是怎样的？
And additionally, could you talk a little bit about your decision to bring back the Best Ever Deal -- Best Deal Ever in July? Do you see this as more of kind of a customer acquisition vehicle, similar to the Boost Week or does it really drive more order frequency?
另外，能否谈一下你们在7月重新推出“有史以来最划算促销”（Best Deal Ever）的原因？你们是否将其视为类似“Boost Week”的获客工具，还是它更多是为了推动订单频率？
Russell J. Weiner
Yes, Christine, I think on deals, maybe without giving away too much, our two major deals are mix and match and our carryout deal have been pretty consistent in their percent of mix over time. And then as far as Best Deal Ever, the reason we brought that back was a couple of things.
是的，Christine。关于促销订单占比，我不方便透露太多细节，但可以说我们的两个主要优惠项目——“任搭任选组合”和“自取优惠”——在整体销售组合中所占的比例一直比较稳定。
Obviously, consumers are looking for value right now. But this is where Hungry for MORE shows you that it's more than just value. The M in Hungry for MORE is about the most delicious food. And we certainly did that last quarter with Parmesan Stuffed Crust.
现在的消费者显然非常注重性价比。但这也是我们“Hungry for MORE”战略的意义所在，它不仅仅是“物有所值”。其中的“M”代表“最美味的食物”。在上一季度，我们通过帕玛森芝士芝心比萨体现了这一点。
Here we are with Best Deal Ever. Well, there are two things that make us the Best Deal Ever. The price is fantastic. But this is delicious food. You can put up to seven toppings on these pizzas.
这次我们重启了“Best Deal Ever”促销活动，有两个原因让它配得上这个名字：第一，价格非常有吸引力；第二，它是美味的食物。顾客可以在这些比萨上选择多达7种配料。
And what we know is consumers love to put more toppings on their pizza and they see this not only as a value, but as a way to drive deliciousness and we're a brand that wants to do both. So that was the decision to -- behind the decision to bring it back.
我们了解到，消费者非常喜欢在比萨上加更多配料，这不仅体现了“价值”，更是提升美味的一种方式。而我们作为品牌，追求的是兼顾二者。这就是我们决定重启这项促销的核心原因。
Operator
Our next question will come from Lauren Silberman from Deutsche Bank.
下一位提问者是来自德意志银行的 Lauren Silberman。
Lauren Danielle Silberman
Congrats on the quarter. I wanted to ask about Stuffed Crust. You talked about strong performance. Can you just give a bit more color on incrementality, what you're seeing in terms of traffic versus average ticket contribution? And when you launch a new product like this, do you tend to see mix spike as you advertise and it settles over time? Or are you seeing more of a steady build as awareness grows? Any color on how that mix is versus I think you've talked about 15% for peers?
恭喜你们这个季度的表现。我想问一下关于芝心比萨的情况。你们提到它的表现非常强劲，能否多分享一些关于增量贡献的细节？比如它对客流量和客单价分别有多大影响？另外，像这种新品推出时，你们是否通常会看到产品销售占比（mix）在宣传初期迅速飙升，随后回落？还是会随着消费者认知提升而稳步增长？另外，关于 mix 比例是否可以提供一些数据参考？我记得你们曾提到行业中领先者的占比大概是15%。
Russell J. Weiner
Yes, Lauren, we had high expectations for the launch, no doubt. Like you said, this is a big pizza type within the category. And I'm pleased to tell you that those high expectations were met. Operationally, all the training we did, our franchisees did an amazing job and the consumer input we've gotten is better than, I think, any product that I can remember since maybe New and Inspired. And so that's been really positive.
是的，Lauren，我们对这次芝心比萨的推出确实抱有很高的预期。正如你说的，这是整个比萨品类中非常重要的一种产品。我很高兴地告诉你，它完全达到了我们的高预期。从运营角度来说，我们做了很多培训工作，加盟商的执行也非常到位。消费者的反馈甚至可以说是我从“New and Inspired”以来看到过最好的一个产品反响，非常积极正面。
Now the other nice thing about Stuffed Crust is what you said is it also drives ticket. So you're driving deliciousness, but when you add this to your mix and match, you got to pay $4 more. Every penny is worth it, but $4 more for mix and match. So it's not only driving deliciousness, the value is really good, but it's also driving profit.
另一个值得一提的点是你提到的：芝心比萨能带动客单价提升。它不仅提升了“美味度”，而且如果你把它加入“任选组合”里，顾客需要额外多付4美元——这是物有所值的4美元。所以它既提升了口味和体验，也带来了可观的利润增长。
You didn't directly answer -- ask this question, but I'll give you a little bit of insight as to how we thought about Stuffed Crust. We came out with a medium and a lot of questions have come up, hey, why a medium and not a large? A couple of reasons. One is we wanted to have a different dough type than our hand-tossed. And so we decided to use our pan dough and that comes into medium.
虽然你没直接问这个，但我想补充一点关于我们如何思考芝心比萨的推出策略。我们这次只推出了中号，而不是大号，也有很多人问我们为什么这么做。原因有几个：首先，我们希望这款产品的饼底类型不同于经典的手抛面团，因此我们选用了平底锅面团（pan dough），这种面团本身就是中号尺寸。
Now we easily could have come out with a large, but we asked ourselves, is it really worth it? And when we look at the data, and not to say the data won't change, and we can change our mind. But a big reason we came out with the medium was because we knew that if the competition wanted to react to us coming up with Stuffed Crust, the majority of them have larges. And the ability to react with competitive pricing versus a medium when all you have is a large is really, really difficult.
当然，我们完全可以推出大号版本，但我们当时问自己，这样做真的值得吗？我们看了很多数据（虽然未来数据可能变化，我们也保留调整策略的灵活性），但我们最终决定推出中号产品，其中一个重要原因是：如果竞争对手想针对我们的芝心比萨做出回应，他们大多数都是以大号为主。在他们只有大号的情况下，想要与我们中号产品进行价格竞争，其实是很困难的。
And I think this is also a way over time with great taste and relative value that we're going to continue to grow share.
我认为，这种“高口感 + 相对高性价比”的产品组合，将是我们未来持续扩大市场份额的有力武器。
Sandeep Reddy
And Lauren, I'm just going to add more of the financial dimension to everything that Russell was talking about because when you go back into the comp for the quarter, the 3.4% comp that we had, it was driven by incremental traffic, which I think we talked about in transaction counts. And so it's definitely a traffic builder as we've driven trial with the new introduction to the menu.
Lauren，我来补充一下 Russell 刚才提到的内容，从财务的角度来说明一下。回顾我们这个季度的可比门店销售增长（comp），达到了3.4%，这主要是由新增客流量推动的，我们也在之前提到过交易笔数的提升。因此，这款新品确实是一款能够带动客流的产品，我们通过菜单上的新品引发了顾客的尝试行为。
And we are now really confident that this is going to be a very evergreen part of our menu, which is why we're saying, it's a long-term catalyst. It's not just for this launch and this year. It's -- we think it's -- we're taking a space in pizza QSR from a menu perspective that others had occupied and now we are there and we have what we believe is the best product of this crust type in the marketplace. So when you look at this, it's not just Q2. It's more the rest of this year and next year. Stuffed Crust is here to stay.
我们现在非常有信心，芝心比萨将成为我们菜单上一个长期保留的品类，也因此我们称其为一个长期的增长催化剂。这不仅仅是为了这次新品发布，也不仅是为了今年，我们认为这是一个我们原本未涉足、但竞争对手长期占据的细分市场，现在我们也进入了，并且我们相信我们的芝心产品是市场上同类产品中最好的。所以，这不仅仅是Q2的亮点，而是贯穿全年、甚至明年的持续推动力。芝心比萨会长期存在于我们的菜单中。
Russell J. Weiner
And maybe that's the way. Just back to some of the first questions on kind of what are the long-term drivers? I mean, if what we're looking at is to continue to drive that one -- call it, 1 share point a year that we've done over the last 10 years, that's macro within the category. But within the category, there are all these subcomponents. Stuffed Crust is subcomponent. And so we intend to drive significant share of Stuffed Crust.
我想这也可以作为一个回应，呼应之前大家问到的一些关于长期增长动力的问题。过去10年，我们每年大概提升了1个百分点的市场份额，这是在整个比萨品类层面的宏观增长目标。而在这个大类之中，其实还有很多子品类，比如芝心比萨就是其中之一，我们有意在这个细分类别中占据更大的份额。
So we're brand new to that, and that's going to be driven over time. And so I think that's maybe the way to maybe put some more texture behind why we're so bullish about the long term is not just macro, there's a lot of share to be gained. But within these categories that we're relatively new on, aggregators, Stuffed Crust, New York Style, they in and of themselves have lots of room for us to gain share.
我们在这个领域还是新进入者，这需要时间来培育增长。而这正是我们对长期增长保持乐观的原因之一——不仅仅是比萨行业整体的增长潜力，更重要的是在这些我们刚刚涉足的子品类中，比如聚合平台（aggregators）、芝心比萨、纽约风味比萨（New York Style），我们都有很大的市场份额提升空间。
Operator
Our next question will come from Brian Harbour from Morgan Stanley.
主持人
接下来提问的是来自摩根士丹利的 Brian Harbour。
Brian James Harbour
Yes. Maybe just to come back to the kind of the store margin topic. In the near term, is some of the pressure that you're still seeing kind of on the corporate stores? Are franchisees seeing something similar directionally? Or I know that's a small store base, but anything idiosyncratic that you would call out? And then food inflation has been a little bit higher in the first half. I mean do you expect something similar in the second half or some moderation from here?
是的，我想回到门店利润率这个话题。在短期内，当前看到的压力是否主要集中在公司直营门店上？加盟商是否也面临类似趋势？我知道直营门店的基数很小，但是否有什么特殊情况值得指出？另外，食品通胀在上半年略高，您是否预计下半年还会保持类似水平，还是说会有所缓解？
Sandeep Reddy
So Brian, good question on this one. I want to start by saying the sample size on corporate stores is so small that it absolutely is not a read-through to franchisee profits and profit margins. And I think I've said this before and I'll reiterate that again, we are in a very good place on a franchisee EBITDA perspective.
Brian，这是个好问题。我想先强调，公司直营门店的样本量非常小，因此它们的表现并不能代表加盟商的盈利或利润率。我之前说过这一点，现在再强调一遍，从加盟商EBITDA的角度来看，我们的状况非常良好。
Our economics continue to be very good over there. And we're very pleased with where that's going. And we -- as we said earlier -- we expect to -- earlier this year, we expect to grow franchisee EBITDA, and that's always the -- what we strive for.
我们的经济模型在加盟体系中依然表现强劲，我们对目前的情况非常满意。正如我们年初所说，我们预计加盟商EBITDA将实现增长，这始终是我们努力的目标。
And then I think coming back to corporate store margins, over here, there's a big insurance charge that we took in the quarter. You actually take out that insurance charge, it was relatively flat from a corporate store margins perspective. And so I think it's really a 1- quarter impact that you are seeing that it's a little bit outsized on that business.
回到公司直营门店利润率的问题，本季度我们承担了一笔较大的保险费用。如果你把这部分费用剔除掉，从利润率来看其实是基本持平的。所以我认为这只是一个季度的特殊影响，在财务表现上看起来有些夸大。
And look, a bit on food inflation, yes, there was pressure from food inflation, but we expected that. We said earlier this year that we expect it to be heavier on food inflation in the first half and lighter in the second half.
关于食品通胀，确实存在一定压力，但这是我们预期之中的。我们在年初就表示，上半年食品通胀会更重，下半年会有所缓解。
No change to the expectations for the year. We're expecting it to be up low single digits. But -- so all this was what we expected. So just to reiterate, franchisee EBITDA in a good place, and we strive to continue to grow it.
我们对全年预期没有改变，预计食品通胀将以低个位数上涨。这一切都在我们的预期之内。重申一点，加盟商的EBITDA状况良好，我们将继续努力推动其增长。
Operator
Our next question will come from Jeffrey Farmer from Gordon Haskett.
主持人
接下来提问的是来自 Gordon Haskett 的 Jeffrey Farmer。
Jeffrey Daniel Farmer
Just a couple of big picture follow-ups. As you guys discussed on this call, U.S. pizza segment is definitely in the middle of an intensifying value push. Primary part of my question are, what would you guys consider to be the pros and cons of this value-focused backdrop for your Domino's brand?
我想就几个大方向的问题进行跟进。正如你们在这次电话会议中提到的，美国比萨市场显然正处于一场日益激烈的“价值战”当中。我的核心问题是，对于 Domino’s 品牌来说，你们认为这种强调价值的环境带来了哪些利与弊？
Russell J. Weiner
Yes. It's -- I guess I need to first say, obviously, we all want the best for customers. So we'd love the country and the world to be in a place where there aren't headwinds on consumers because we're a pizza company, we think everyone should be able to get the food they want.
是的。我首先想说的是，显然我们都希望为顾客带来最好的体验。我们希望无论在国内还是全球范围内，消费者都不面临任何经济压力。作为一家比萨公司，我们认为每个人都应该能轻松吃到自己喜欢的食物。
With that said, and if you just look at yourself as a restaurant or if we look at ourselves as a QSR and maybe widen the lens, not just pizza, but overall QSR, Jeff, we were really built for this. Value requires a few things. It requires strong economics that you can get through tougher times. A supply chain that has the volume and pricing that Sandeep talked about earlier, folks keep asking about procurement efficiencies, well, that less supply chain, and then a large ad budget that pushes volume through a time where margins may be tighter.
但话说回来，如果我们把自己看作一家餐饮企业，或更广义上作为一家快餐企业（QSR）来看待，不仅限于比萨这个品类，那么 Jeff，我们的商业模型天生就是为这种环境而打造的。要在“价值战”中取胜，需要几个关键要素：其一，是足够强大的经济效益以应对困难时期；其二，是像 Sandeep 刚才提到的具备规模优势和议价能力的供应链，大家总在问采购效率的问题，其实这就是供应链的价值；其三，是一个庞大的广告预算，可以在利润空间受限的时期帮助我们持续推动销售量。
And so the pros and cons to me, of value, at least for Domino's, when consumers are looking for value, that's actually a big pro for us because I think we're set up. I don't think I know we're set up better than anybody else to get through this. So when these are headwinds for other brands, they end up being tailwinds for Domino's, which just means when things turn around, we'll be in a better place as well.
因此，关于“价值战”对 Domino’s 来说的利与弊，在我看来其实利远大于弊。因为当消费者在寻找性价比时，这对我们来说反而是一个巨大的利好。我不只是认为——我确信我们比任何人都更有能力应对这样的市场环境。当其他品牌面临逆风时，Domino’s 反而是在顺风中前行。而当行业整体回暖时，我们的处境只会更加有利。
Operator
Our next question will come from Jeff Bernstein from Barclays.
主持人
接下来提问的是来自巴克莱银行的 Jeff Bernstein。
Jeffrey Andrew Bernstein
Great. Just looking at Russell, in your prepared remarks or at least in the press release, you talked about both the aggregators being a strong component of your growth and then the rewards program.
很好。Russell，在你的发言稿中，或者至少在新闻稿中，你提到第三方聚合平台（aggregators）是你们增长的重要组成部分，同时也提到了会员奖励计划。
So I just wanted to touch quickly. Just on the aggregator side. I know you're not giving the mix shift for DoorDash, similar to how you did for Uber through last year, but should we assume a similar sequential growth rate acceleration for Uber or for DoorDash, I should say? I know it's twice the size, but just thinking directionally whether we should assume something similar?
我想简单问一下关于聚合平台的问题。我知道你们目前并未披露 DoorDash 的占比变化，就像去年对 Uber 所做的那样，但我们是否可以假设 DoorDash 的增长节奏是否与 Uber 类似？我知道 DoorDash 体量是 Uber 的两倍左右，但从趋势角度来看，我们是否可以做出类似的预期？
And then on the rewards business, I don't know if there's any color you could provide, I know you say it's larger than ever. But whether there's any metrics you share in terms of the number of members or the frequency or spend? Any color without giving away too many secrets would be great.
另外关于会员奖励计划，我知道你们提到它的规模创下了新高，不知道你们能否提供一些细节？比如会员数量、消费频次或客单价方面的数据？当然，如果不方便透露具体数据的话，哪怕一些方向性的内容也很好。
Russell J. Weiner
Jeff, I think you answered your question, but let me try just because the question was so well put. Let me try to give you as many answers I can before Sandeep kicks me under the table here. What we do expect and we've been really clear on is that the second half of the year is going to be where you see more growth out of DoorDash.
Jeff，其实你已经部分回答了你自己的问题，但你的问题确实问得非常好。我尽量多说一点，看看在 Sandeep 用脚踢我之前能说多少。我们已经非常明确地表示，DoorDash 在今年下半年会带来更显著的增长。
And we said over time, what we expect to get out of this $5 billion pizza category with aggregators. How that actually looks over the short term is something that even if I told you I had the answer to it, I probably wouldn't be 100% correct. And so what we'll do is we'll continue to report this delivery category growth that we're seeing. And over time, we'll be able to potentially break that out a little bit further with some more insights. But you're right, Uber is twice as or half the size of DoorDash. So I think over time, we'll see more out of that.
我们也曾表示，在这个价值 50 亿美元的比萨聚合平台市场中，我们希望持续扩大份额。短期内它的表现具体如何，即便我现在告诉你一个答案，恐怕也不能百分百准确。因此我们会继续报告整体外送业务的增长情况，未来可能会进一步提供更细分的数据。你说得对，Uber 的体量大概是 DoorDash 的一半，所以从长期来看，我们确实预期 DoorDash 的贡献会更大。
And then with the rewards program, what I like about it and actually you maybe think of this whole comparison to aggregates. If you think of aggregators, some tend to be a higher income customer. These are folks who we hope will eventually come to Domino's, but we're willing to meet them where they are. The economics are set up for them to stay aggregator customers, should they need to. But there are customers out there who want value and want rewards.
关于会员奖励计划，我觉得很有意思的一点是它和聚合平台之间的对比。聚合平台的用户通常收入偏高，我们当然希望他们最终能转向 Domino’s 的自有渠道，但我们也愿意在他们所在的平台上“见面”。我们的经济模型允许这类用户继续留在聚合平台上消费。但与此同时，也有一部分用户特别注重价值和奖励机制。
And the biggest change we did to the Domino's Rewards program was made it a better program for light users. You can do 20 or 40- point redemptions now versus 60 in the past, and carryout users. So those tend -- both of those customers tend to be a little bit lower income.
我们对 Domino’s Rewards 最大的改进，是让它对轻度用户更有吸引力。现在只需 20 或 40 分就可以兑换，而以前至少要 60 分。我们也特别照顾自取订单用户，这两类群体往往收入水平较低。
So those two things are working really well together to drive Renowned Value. And I just -- I'd throw out, it's a good point on the loyalty program is one would think if you're giving out a point or redemption at 20 and 40 points, maybe that hurts ticket is actually the opposite. Because essentially, people are getting side items. And so the ticket on our 20 and 40-point item checks tends to be higher than when you're getting a free pizza.
所以这两个策略配合起来，共同推动了我们所谓的“知名价值”（Renowned Value）。还有一点我想补充一下，很多人会以为把积分门槛降到 20 或 40 分会影响客单价，其实恰恰相反。因为用户往往是用这些积分换取配餐（side items），而这些订单的平均客单价往往比兑换免费比萨时还要高。
Operator
And we'll take our last question from Alex Slagle from Jefferies.
主持人
我们将接听今天最后一个问题，来自 Jefferies 的 Alex Slagle。
Alexander Russell Slagle
Follow-up on Chris' question earlier on the supply chain and kind of sense for the opportunity to see these continued margin gains continue? It kind of seems like the 3Q is usually a bit lighter margin historically and it was last year as well.
我想追问一下 Chris 之前关于供应链的问题，想了解你们是否还有机会继续扩大利润率？历史上来看，第三季度的利润率通常会偏低，去年也是如此。
So trying to think how -- what we should think about your ability to maintain this current margin level going forward? Or is there a unique dynamic in the 3Q that we should think about?
那我们是否应该预期你们当前的利润率水平能够持续？还是说第三季度存在一些特有的因素，我们需要考虑进去？
Sandeep Reddy
So Alex, thanks for the question. I think, look, on supply chain, we talked about at the beginning of the year, we expected to see margins improve slightly for the year, driven a lot by the procurement productivity. And so I think as you look into the back half, no real change in those expectations.
谢谢你的提问，Alex。关于供应链，我们在年初时就说过，全年利润率会略有提升，主要是由于采购效率的提升所带动。从目前来看，对下半年的预期并没有什么变化。
And yes, there's some seasonality based on what cost structures look like in the summer months, for example, where utility costs end up going up a little bit. But overall, it's in the comparison.
当然，从季节性角度看，夏季月份成本结构中会有些波动，例如水电费等公用事业支出通常会上升一些。但这些因素在同比比较中已经考虑在内。
So I think year-on-year, I think the trends should be pretty much what we talked about for the full year. And so what we've seen in the first half should be pretty indicative of what we expect.
因此从同比角度来看，我们预期的趋势将与全年指引基本一致。今年上半年看到的表现基本可以反映我们对下半年的预期。
Gregory J. Lemenchick
Thank you, Alex. That was our last question of the call today. I want to thank you all for joining, and we look forward to speaking with you all again soon. You may now disconnect. Thank you.
谢谢你，Alex。这是我们今天电话会议的最后一个问题。感谢各位的参与，期待不久后再次与大家交流。现在您可以断线了，谢谢。
Operator
Thank you. This does conclude today's conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.
谢谢大家。今天的电话会议到此结束。感谢您的参与，现在您可以断线了。祝大家今天愉快。