None
EN
Domino's takes $300 million hit as stores close and it rolls out new higher price strategy
['Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Domino's Pizza has delivered financial results, including a brutal $300 million impairment for investors, pushing the company deep into the red.
It means the Aussie-led pizza chain will see only its second financial loss since becoming a public company more than two decades ago.
Other impairments on the books stem from the permanent closure of 29 stores in Australia and New Zealand.
"The result reflects the Company's deliberate transition towards profitable and sustainable sales growth, with long-term franchisee profitability prioritised over headline sales," Domino's said.
While this resulted in lower same-store sales, franchisee profitability improved."