Don Meij has pocketed some serious dough for his luxurious home,complete with glossy magazine-worthy kitchen.
The plight of Domino’s Pizza shows how higher inflation is curbing profits. But some blue-chip companies are profiting handsomely.
Australia’s largest pizza chain is now expecting deflation in soft commodities,which will keep a lid on costs for cheese,flour and meat – but customers are unlikely to get a taste of it.
Domino’s boss Don Meij is confident his pizza business can outperform itself across the second half of the year despite facing earnings ‘speed bumps’.
Digital ordering and home delivery will become the norm for food retailers and restaurants,the Dominos boss predicts.
Some retailers are bracing for an extended period of weak consumer spending as downbeat customers pull back on purchases non-essential items.
Domino’s Australia boss Don Meij says Australian consumers will increasingly seek out home-grown goods in the wake of the coronavirus pandemic.
Rising sales at the pizza chain's outlets in Europe and Japan couldn't offset a slowdown in its home market,where price increases weighed on demand. But things are looking up from here,the company says.
Domino's has defended its strategy of opening new stores in already successful areas despite concerns it could cannibalise the sales of existing franchises.
Domino's Pizza Australia has missed earnings guidance and reported a four per cent drop in profits in its full-year results.
Shares in Domino's Pizza have plunged more than 10 per cent as investors digested a weak trading update that revealed slower than expected store rollouts and sales growth.