“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. 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.

Source: bd News24 October 17, 2019 06:33 UTC