Business
Reality bites for Domino's after massive slide in profit
Domino’s Pizza Enterprises has admitted it was too quick to pass on inflation to customers, leading to fewer orders and plunge in profit.
Business
Domino’s Pizza Enterprises has admitted it was too quick to pass on inflation to customers, leading to fewer orders and plunge in profit.
Business
Domino’s is close to doubling its share price in a year and among the biggest beneficiaries is its board, whose shares in the company have surged in value by almost $2 billion to $4 billion during Covid.
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Domino’s has hit a record share price of $121 as lockdowns in the southern states force people back to using home delivery foods.
Domino’s Pizza has added to its already significant global footprint with the $79 million purchase of its Taiwan counterpart.
The booming performance of retail chain stores has continued with Domino’s recording an underlying profit of $96.2 million, an increase of 32 per cent as its global food sales passed $1.84 billion.
Fast-food retailer Domino’s is closing in on a record $100 a share handing its chairman Jack Cowin a fortune of almost $1 billion in a year in share price growth.
