Domino's Australia operator eyes worst year ever as challenges mount

Dominos Pizza Enterprises

27/12/2024 24:59

** Shares of Australia's Domino's Pizza Enterprises  DMP.AX  set for their worst year since
2005 listing
    ** Stock on track to lose around 50% this year
    ** Stock currently trading at A$29.95; down from A$118.03 records it hit in 2021
    ** The pizza maker withdrew its annual forecast for 2024 in January, hurt by
worse-than-feared network sales in Asia and Europe
    ** Stock dragged in April as well after brokerages flagged headwinds for the firm amid
worries around its Japanese and French operations
    ** The firm's veteran chief stepped down in November, leading to another share price rout
    ** Brokerage Citi earlier this month said DMP's continued weakness in France is
"disappointing," particularly given co's recent initiatives including launch of stores on
Deliveroo and new lunch menu items

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 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com))