The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price fell over 5% after an update from the US listed Domino’s business.
Domino’s Pizza Enterprises is the largest pizza chain in Australia in terms of both network store numbers and network sales. It is also the largest franchisee for the Domino’s Pizza brand in the world. The company holds the exclusive master franchise rights for the Domino’s brand and network in Australia, New Zealand, Belgium, France, The Netherlands, Japan, Germany and Luxembourg with more than 2,400 stores.
Investors Go Cold On Domino’s
The US listed Domino’s Pizza, Inc. (NYSE: DPZ) sank 8.7% after reporting a trading update for the second quarter that missed expectations with company-owned same store sales only growing by 2.1% and franchise same-store sales up by 3.1%.
A lot of the blame is being put on other online ordering apps such as Uber Eats, and there’s a worry that the growing amount of foodie competition could also be hurting the ASX-listed Domino’s in Australia and Europe. We’ll soon find out with the reporting season next month.
For growth ideas it could be a better idea to look to the shares in the free report below.
[ls_content_block id=”18457″ para=”paragraphs”]
[ls_content_block id=”18380″ para=”paragraphs”]
