Domino’s hits investors for $300m and closes 29 stores across Australia and New Zealand
AI Market Summary
Domino's Australia/New Zealand is closing 29 underperforming stores after a balance-sheet review and a strategic shift away from heavy discounting, contributing to a reported ~$300m investor hit and a second annual loss since listing. Same-store sales fell 4.7% as management prioritized margins and franchisee profitability over transactions, while maintaining FY earnings guidance of $118m–$122m and an underlying dividend.
Impact level
● Low
Affected assets
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AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Domino’s Pizza is closing 29 underperforming stores across Australia and New Zealand as same-store sales in the two markets fell 4.7% year on year, a move that has been linked to a $300m blow for investors. The company reaffirmed full-year earnings guidance of $118m to $122m and said it would pay an underlying dividend. Shares have slid from a peak of more than $160 in late 2021 to about $17.
