Domino's Pizza to exit four international markets

October 17, 2019 15:42
Domino’s Pizza is withdrawing from some European markets where it has been beset with losses. Photo: Reuters

Domino’s Pizza Group, Britain’s biggest pizza delivery company, said on Thursday that it will exit its international markets, where it has been facing mounting losses, Reuters reports.

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

The company, which is a franchise of US-based Domino’s Pizza Inc, said third-quarter group system sales rose 3.4 percent on strong demand in the UK and Ireland.

However, it reported a 2.7 percent dip in international system sales, which have taken a hit from macroeconomic events, including declining tourist numbers in Iceland, the report said.

The British company owns Domino’s operations in Switzerland, Iceland, Norway and Sweden, and is a minority shareholder in the Germany operations as well, according to the report.

The firm, 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.

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