Friday, February 28, 2020 | ePaper

Domino's Pizza to exit four international markets

  • Print
Reuters :
Domino's Pizza Group Plc (DOM.L), Britain's biggest pizza delivery company, said on Thursday it will exit its international markets, where it has been facing mounting losses.
"We have concluded that, whilst they represent attractive markets, we are not the best owners of these businesses," outgoing Chief Executive Officer David Wild said.
The company, which is a franchise of US-based Domino's Pizza Inc (DPZ.N), said third-quarter group system sales rose 3.4% to 313.5 million pounds ($400.15 million) on strong demand in the UK and Ireland.
The British company owns Domino's operations in Switzerland, Iceland, Norway and Sweden, and is a minority shareholder in the Germany operations as well.
However, it reported a 2.7% dip in international system sales, which have taken a hit from macroeconomic events, including declining tourist numbers in Iceland.
Europe's economy has slowed this year as the US-China trade tensions weakened global growth, and consumers and businesses in and around the United Kingdom worried about the impact of Brexit on jobs and incomes.
The company, which has 57 stores in Norway, said it had implemented a turnaround plan in the country during the quarter, but early signs have been mixed and improvement in sales were weaker than expected.
The decision to exit these markets comes a few months after the company announced the retirement of its CEO Wild, while in the midst of trying to resolve a profit sharing row with disgruntled franchisees in the UK and Ireland.

More News For this Category

Participants of an appreciation event, organized by Cisco Systems in city recently. Raghavendran, Managing Director, Partner Organization, Cisco India and SAARC presided over the event.

Participants of an appreciation event, organized by Cisco Systems in city recently. Raghavendran, Managing Director, Partner Organization, Cisco India and SAARC presided over the event.

.

Sayeed H. Chowdhury, Chairman, Board of Directors of ONE Bank Limited, inaugurating its Agent Banking service through cutting a cake at the bank head office in the city on Monday. Ashok Das Gupta, Vice Chairman, Zahur Ullah, EC Chairman, Shawket Jaman, Salahuddin Ahmed, ASM Shahidullah Khan, Kazi Rukunuddin Ahmed, Directors and M. Fakhrul Alam, Managing Director of the bank, were also present.

Sayeed H. Chowdhury, Chairman, Board of Directors of ONE Bank Limited, inaugurating its Agent Banking service through cutting a cake at the bank head office in the city on Monday. Ashok Das Gupta, Vice Chairman, Zahur Ullah, EC Chairman, Shawket Jaman, Salahuddin Ahmed, ASM Shahidullah Khan, Kazi Rukunuddin Ahmed, Directors and M. Fakhrul Alam, Managing Director of the bank, were also present.

.

Govt to organise first ever Blockchain Olympiad

Business Desk :The government in partnership with private sector is going to organise the first ever 'Blockchain Olympiad' in Dhaka from April 16-18 to select five teams for participating

Cisco expands its footprint in BD

Business Desk :Cisco announced its commitment to accelerate Bangladesh's digital transformation and showcase how digitization can fuel economic prosperity, global competitiveness and sustainable growth. The disclosure came out at

Humayun urges US entrepreneurs to invest more in Bangladesh

Business Desk :Industries Minister Nurul Majid Mahmud Humayun on Thursday urged the entrepreneurs of the United States (US) to invest in Bangladesh's different sectors, including energy, infrastructure, communication, agro-business,

M. Kamal Hossain, Managing Director of Southeast Bank Limited, along with local elites, inaugurating its Sub-branch at city's West Madartek ara on Thursday.  Senior officials of the bank were also present.

M. Kamal Hossain, Managing Director of Southeast Bank Limited, along with local elites, inaugurating its Sub-branch at city's West Madartek ara on Thursday. Senior officials of the bank were also present.

.

Abul Quasem made Independent Director of Bank Asia

Abul Quasem made Independent Director of Bank Asia

Business Desk :Md. Abul Quasem has recently been elected as an Independent Director of Bank Asia Limited. He started his career with Bangladesh Bank as an Assistant Director in

Downbeat at DSE, CSE continued

Economic Reporter :Country's premier bourse, Dhaka Stock Exchange (DSE), closed on Thursday continuing downbeat as investors rushed for sell-off sectors' specific shares amidst dilemma exacerbated by banks' interest rate.The

FBCCI for closer business ties with Brazil

Business Desk :Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Wednesday laid emphasis on closer business ties between Bangladesh and Brazil through reducing communication gap for mutual

FTA among BIMSTEC states to open new horizon for trade: Tipu

Business Desk :Emphasizing on signing a Free Trade Agreement (FTA) among the member states of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), Commerce Minister