Domino’s Pizza Group (DOM) took a drop on Friday with the announcement that the Chief Executive Officer (CEO) would be leaving the company in April next year. (He was offered a bigger job in a non-competitive area to Domino). Successor not yet announced; this was on top of the announcement last month of a change in Chief Financial Officer.
Domino’s, founded in 1960, first UK store opened in Luton in 1985. A global, primarily franchised, system Domino’s has a single focus – The home delivery pizza.
There are now 750 stores in the UK, 48 stores in the Republic of Ireland, 25 stores in Germany and ten stores in Switzerland.
More than half of sales are from online. And nearly half of these sales are from mobile devices. 50 new stores planned for the UK of which 23 are now open. In marketing, Domino’s recently partnered with the X Factor App.
Domino’s half-year report had sales increasing nicely. They are expected to meet, or possibly exceed, Market expectations with their end-of-year report.
As you know, I have been a fan of this share for a couple of years. This dip could be a buy opportunity. Whether you are trading or investing, you might like to wait until the share price shows a turn back up. A shift could be on the announcement of the new CEO and if he/she brings the right stuff!