Australia's Domino's Pizza Enterprises tanks to over 11-yrs low as CEO steps down

Dominos Pizza Enterprises

02/07/2025 05:37

Updates share moves, adds comments from Jefferies

** Shares of Domino's Pizza Enterprises DMP.AX slump as much as 26.5% at A$14.8, to hit its lowest since mid-December 2013

** Stock is among the top losers on the ASX200 benchmark index .AXJO, which is up 0.6%

** The Australian pizza chain's group chief executive officer and managing director, Mark van Dyck, to step down at the end of the year

** Current chairman Jack Cowin would take on the role of executive chair on an interim basis, adds co

 ** Jefferies believes today's stock move will be remembered as a buying opportunity

 ** Sees opportunities for significant cost reductions despite industry conditions being tough

 ** Brokerage says cost reductions should improve economics and position the business for an eventual demand recovery

** Stock last down 18.2% takes YTD losses to 44.1%

(Reporting by Sherin Sunny and Kumar Tanishk in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))