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.
Have shock jocks gone too far after Rush Limbaugh called Sandra Fluke a slut?
British business: We need to stay in the European Union - or risk losing up to £92bn a year
World news in pictures
British father faces charges after confessing to slitting his two children's throats in Lyon flat
Civil partnerships face axe as price of ensuring David Cameron's gay marriage plans become law
- 1 The ‘Beverly Hills’ of Surrey pays more income tax than big cities of the North
- 2 Austerity has hardened the nation's heart
- 3 Tottenham to smash pay scale with £150,000-a-week contract in attempt to tie Gareth Bale to club
- 4 The moral case on tax avoidance is overwhelming - and we all know Google wants to do the right thing
- 5 Sam Wallace: The second coming of Jose Mourinho at Chelsea will be a reunion that can only end in tears
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£500 per day: Orgtel: A top tier banking client urgently requires Finance Busi...
£425 - £550 per day: Orgtel: Senior Finance Project Manager - £550 - Bristol -...
£150 - £250 per day: Orgtel: KYC Analyst - London - Banking - £150-250/day C...
£500 per day: Orgtel: A top tier banking client urgently requires Finance Gove...