Domino's fails to get slice of Games action
Domino's Pizza did not see an expected surge in people ordering pizza while watching the Olympics at home, and posted a slowdown in sales growth in its third quarter, which dragged its shares down by 4 per cent yesterday to 540.5p.
But the pizza delivery company, with 770 stores in the UK, the Republic of Ireland, Switzerland and Germany, did report a spike in online and mobile phone orders.
Domino's UK like-for-like sales rose 3.7 per cent over the 13 weeks to 23 September, against a leap of 8.1 per cent in the previous quarter. Wayne Brown, an analyst at Canaccord Genuity, said it was "disappointing" and added: "The degree of the slowdown will come as a surprise."
Domino's fared far worse in the Republic of Ireland, where underlying sales fell by 2.1 per cent.
Total sales at the group rose by 7.9 per cent to £136.4m, boosted by new stores. Online now accounts for 58.4 per cent of UK delivered sales, with orders on mobiles representing 18.5 per cent of total internet sales. Its chief executive, Lance Batchelor, was "confident" Domino's will hit City forecasts of £46.6m profits this financial year.
- 1 Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
- 2 Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
- 3 Sussex couple die in suspected Christmas Day 'suicide pact'
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 The Unluckiest People of the Year 2014 (and one very unlucky giraffe)
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...