Domino’s just barely missed Q4 analyst expectations.
Today, Domino’s Pizza released their total earnings for the fourth quarter of 2021, bringing in a profit of $1.34 billion. Unfortunately, this missed analyst expectations of $1.38 billion, which has caused investors to lose some confidence in the company. Some analysts have begun to wonder whether Domino’s is a pandemic-era stock, only profitable for as long as people were isolating at home and ordering pizza. As COVID-19 restrictions begin to lessen, customers are likely ordering less pizza, hurting Domino’s bottom line.
Was Dominos a pandemic stock? Will people be ordering less delivery as COVID restrictions lift? We will have to see, but all eyes are on $DPZ after a slight earnings miss.
— Work Hard – Retire Early (@WorkHardRE) March 1, 2022
“We believe that the sale we saw in Q4 2021 and it seems so far in 2022 for the U.S. business are not indicative of the demand our great brand is capable of generating,” Domino’s CEO Ritch Allison said.
On the subject of the CEO, Domino’s received an additional blow to their stock values when it was announced that Allison is planning on retiring from his position effective May 1. Allison will be succeeded by Domino’s Chief Operating Officer and US President Russell Weiner. Taking Weiner’s place as COO will be Sandeep Reddy, who currently works as CFO of theme park chain Six Flags, though he will be retiring from that position later this month.
$DPZ CEO Ritch Allison is retiring April 30, 2022. The Board has appointed Russell Weiner, Domino's Chief Operating Officer and President — Domino's U.S., to succeed Allison as the Company's next CEO, effective May 1, 2022. Allison was CEO for 4 yrs. @dominos
— Kate Rogers (@katerogers) March 1, 2022
“With Russell as CEO and with the addition of Sandeep as CFO, supported by the rest of our leadership team, I am comfortable and confident stepping aside, knowing that Domino’s has strong leaders who are passionate and committed to our business,” Allison said in a statement.
-
Michael Saylor, a prominent figure in the world of cryptocurrency, has seen significant gains this week as the value...
-
The Office for National Statistics (ONS) released official figures on Wednesday, revealing that the United Kingdom posted a record...
-
As scrutiny intensifies, Fujitsu faces repercussions for its role in the Post Office scandal. The UK government has issued...
-
Tech Billionaire Proposes Renaming Wikipedia to ‘Dickipedia’ in Exchange for Record Donation In a recent social media spectacle, tech...
-
Urgent IMF Deal Needed to Prevent Pakistan’s Economic Collapse, Bloomberg Warns Bloomberg, a renowned US-based financial news service, has...
-
Federal student loan borrowers are in a tough situation as the pause on loan payments, implemented during the pandemic,...
-
Silicon Valley Bank’s Acquisition Fallout: Rising Unemployment and Uncertain Future First Citizens BancShares Inc., the new Silicon Valley Bank...
-
President Joe Biden and House Speaker Kevin McCarthy engaged in crucial negotiations on Monday to address the US government’s...
-
Secure your financial future with the 50/30/20 rule! As the cost of living continues to increase in 2023, managing...
-
Common treatments and medicines are becoming more expensive and harder to get. According to a new report released this...
-
A California appeals court overturned the challenge to Proposition 22. Back in 2020, California voters passed Proposition 22, which...
-
Tesla is looking to spark interest in its most expensive models. In the last several months, prominent electric vehicle...