logo
Plus   Neg
Share
Email

Domino's Pizza UK LFL Sales Up; Sees Weak EBITDA In H1

Domino's Pizza Inc. (DOM.L,DPZ) reported Wednesday that its UK like-for-like sales including splits for the period from March 23 to June 14 increased 5.1 percent. The LFL growth excluding splits was 6.1 percent.

In its trading update ahead of Annual General Meeting, the company noted that UK trading prior to the coronavirus-related lockdown was robust, driven by increased order count. During the lockdown period, sales performance from delivery grew rapidly with an increase in order count and a growth in items per order and therefore average ticket.

This increase in sales from delivery more than offset the lack of sales from collection, however total order count has declined.

In Ireland, LFL sales including splits for the period fell 9.2 percent and excluding splits dropped 7.9 percent.

For the first half of the year to date period, UK LFL sales including splits grew 3.7 percent, while Ireland LFL sales including splits fell 5.9 percent.

Looking ahead for the first half, the company expects EBITDA to be slightly lower year on year.

CEO Dominic Paul noted that the company has taken considerable additional costs across its operations during the lockdown period for the necessary changes. These costs would more than offset the benefits from the increased sales.

The company remains unable to provide guidance for the full year due to the Covid-19 related uncertainity.

Domino's Pizza is scheduled to release first half results on August 11.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Home Depot, Inc. is set to open three new distribution centers in Georgia over the next 18 months, which is expected to create an additional 1,000 new jobs in Greater Atlanta, including full-time and part-time positions. The home improvement retailer has already created more than 5,000 new jobs in Georgia over the last five years. Shares of BMW AG were losing around 5 percent in German trading after the luxury car maker reported Wednesday a loss in its second quarter, compared to prior year's profit as demand was hit hard by coronavirus pandemic. Looking ahead, the company said it is cautiously optimistic for second half of the year, and reaffirmed fiscal 2020 outlook. Billionaire Richard Branson's Virgin Atlantic has filed for Chapter 15 bankruptcy protection in the United States after being hit hard by travel restrictions due to the coronavirus pandemic. The process is part of the British airline's restructuring plan as it is seeking a 1.2 billion pounds rescue deal in the U.K. The airline also filed a proceeding in the high court in London for its restructuri
Follow RTT