Domino’s Pizza on the up despite international shuttering

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Domino’s Pizza on the up despite international shuttering
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The price of shares in FTSE 250 delivery chain Domino’s Pizza (LON:DOM) has increased by 4.29% to 277.20p (as of 14:50 BST) after it reported a 3.5% rise in group revenues during the quarter ended 29th September. The proportion of online sales has continued to grow and now exceeds 90% of the total in the UK and Ireland.

CEO David Wild commented: “We delivered a solid performance in our core UK and Ireland markets, with system sales up 3.9%, against a market backdrop that remains challenging. Normal working practices continue to be impacted by our franchisee dispute. As we said at our interim results, this situation is complex and we expect a resolution to take time, certainly into 2020. We remain committed to working with our franchisees to agree sustainable win-win solutions.

“[…]Although the financial results have stabilised, the performance of our international business remains disappointing. Over the past six weeks we have completed a review with external consultants, assessing each of our four international markets and the future prospects for our businesses. We have concluded that, whilst they represent attractive markets, we are not the best owners of these businesses. The Board has therefore decided to exit the markets in an orderly manner“.

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