Fast food giant Domino's Pizza will deliver lower-than-expected profit over the next three years as sales slow and it opens fewer new stores, according to an assessment by broker Morgan Stanley which sent shares to an almost four-year low.
Domino's shares fell as much as 6 per cent and closed down 5 per cent at $38.66, which is the lowest they have traded since September 2015. The shares hit highs of $80 in 2016. Domino's was a market leader in introducing online ordering, smartphone apps and the ability for customers to track pizza deliveries en route to their homes - all features that are now commonplace thanks to the rise of delivery services such as UberEats.
Morgan Stanley found Domino's had added few stores to its network in the past five months, while data showed an 11 per cent fall in Google impressions, which suggested sales growth was slowing.earnings and sales growthBut Mr Keirath said Domino's was likely to miss its guidance for earnings to grow between 10 and 20 per cent this year entirely. He cut his earnings per share forecast for 2019 to 2021 by between 4 and 9 per cent.
Domino’s is not Pizza it’s dog food that’s not fit for human consumption
There pizzas suck.
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