Domino's Pizza Enterprises in Australia saw its stock price tumble 16% after reporting disappointing sales figures for early 2024. The company blamed harsh weather in Europe and timing of Chinese New Year for a 7.2% decline in same-store sales during the first eight weeks of the second half.
Domino’s Pizza Enterprises in Australia experienced a devastating blow to its stock price Wednesday, with shares dropping 16% following the release of disappointing sales figures for the beginning of the second half of their fiscal year.
The pizza chain operator, which runs Domino’s locations across a dozen nations including Australia, New Zealand, various Asian markets, and European countries, revealed that same-store sales declined by 7.2% during the initial eight-week period of the second half.
Wall Street analysts had predicted a much smaller decline of just 0.2% for the six-month period, according to Visible Alpha estimates, making the actual results significantly worse than expected.
The company’s stock price fell as low as A$18.13, representing a 16.3% decline and marking the most substantial single-day percentage loss since late August 2025, as recorded at 0205 GMT. This drop pushed the stock to its lowest point in nearly four months.
Company executives attributed the disappointing performance to extreme weather events that impacted operations in Germany and the Netherlands. Additionally, Domino’s cited the timing of Chinese New Year celebrations as another factor contributing to the weak sales figures.
AI Excitement Drives Asian Markets Higher as Wall Street Rebounds
Nine Face Terrorism Charges in Texas Detention Center Officer Shooting
Denver Coach Sean Payton Gives Up Play-Calling for First Time in Career
Former Dubai Champions Clash as Humbert Defeats Defending Champ Tsitsipas