Thursday, October 17, 2019

Domino's Pizza to exit foreign markets

Domino’s Pizza Group Plc (DOM.L), Britain’s biggest pizza delivery company, on Thursday said it would quit its loss-making international operations, sending shares higher in early trade.

The decision to exit four European markets comes a few months after the company announced CEO David Wild would retire, in the midst of a row with disgruntled franchisees in the UK and Ireland over commercial terms.

The British company - which is itself a franchise of U.S.-based Domino’s Pizza Inc (DPZ.N) - owns Domino’s operations in Switzerland, Iceland, Norway and Sweden, and owns a minority stake in its German operations.

“We have concluded that, whilst they represent attractive markets, we are not the best owners of these businesses,” outgoing CEO Wild said.

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