Domino's Pizza (NYSE:DPZ) is firmly in growth mode. On Monday, the pizza delivery giant announced plans to hire an additional 20,000 employees as it looks to solidify the extra market share it has earned since the start of the COVID-19 pandemic.
The hiring spree follows strong second-quarter earnings results that showed 16% higher sales and expanding profit margins. Rival Papa John's International (NASDAQ:PZZA) fared a bit better during the stay-at-home months of April and May, but Domino's is still one of the fastest-growing businesses in the restaurant industry.
The chain's management team described the new hiring as a reflection both of continued demand growth and of Domino's aims to support its local communities. "We realize these are tough times, and not only do we want to maintain strong service levels," Tom Curtis, executive vice president of operations and support said in a statement, "but we also want to provide opportunities to those who have lost their jobs."
Domino's is taking an offensive posture when it comes to real-estate assets, too. The company closed just one store in the fiscal second quarter and has plans to continue opening new carry-out and delivery hubs even in neighborhoods that are already covered by existing franchisees.