Ann Arbor, Mich.-based Domino’s Pizza claimed the title of “largest pizza company in the world” on Tuesday, besting Plano, Texas-based rival Pizza Hut. The company, in its fourth-quarter earnings report, said its self-proclaimed No. 1 ranking is based on global retail sales.

Domino's edged out Pizza Hut, which had been the largest pizza chain, with $12.2 billion in global sales for 2017. Pizza Hut — which is part of Louisville, Ky.-based Yum Brands along with Taco Bell and KFC — had sales of $12.03 billion.

"Without question, we are pleased with our fourth quarter and full-year 2017 performance — with results that continued to outpace the industry," said J. Patrick Doyle, Domino's president and CEO. "Our 2017 global retail sales growth and domestic comps outperformed the high end of our stated three- to five-year outlook."

Domino's dominance had been forecast by analysts for months.

In the past few years, the brand has touted digital innovation, such as apps to track orders and testing driverless pizza delivery. Meanwhile, Pizza Hut, analysts said, has been losing younger customers. 

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Domino's reported fourth-quarter earnings of $93.3 million with profits of $2.09 per share. Earnings, adjusted for pretax gains, were $1.94 per share. The results met Wall Street expectations. For the year, the company reported profits of $277.9 million, or $5.83 per share. 

The quarterly dividend is 55 cents a share.

In fiscal 2017, the company reported it opened 1,045 new stores, of which, 216 were domestic stores and 829 were international stores.

The Michigan-based pizza company started small in 1960 with one store in Ypsilanti, Mich. Back then, it was called DomiNick's. Brothers Tom and James Monaghan bought it for $500 and later renamed it Domino's. There are now more than 14,400 Domino's stores around the world.

Doyle, who led Domino's for eight years, announced earlier this year he is stepping down in June and will be replaced by Richard Allison, president of Domino's International. At the time, he said he wanted Domino's to be the top pizza company in the world.