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Can Domino’s regain its darling stock status?

The pizza delivery company has had a tough few years – but it may have found a secret ingredient
July 26, 2023

Domino’s Pizza Group (DOM) used to be a stock market darling. Excellent branding, roomy margins, good returns on investment and an abundance of literal and figurative dough underpinned a convincing bull case. However, something has gone wrong with the corporate recipe. Growth has been hampered by fallouts and walk-outs, and investors are nervously awaiting the pizzeria’s half-year results next month.

For a company that makes such cushiony, soporific foodstuff, Domino’s has proved a turbulent place to work. During his six years at the helm, David Wild saw four finance directors come and go, and the group has accrued three more since Wild’s own resignation in 2019. They have been accompanied by three new chief executives.

Away from the boardroom, rows with franchisees have also been rumbling, and investors are getting grouchy, too. In June, almost a quarter of shareholders voted against a policy that would see the latest chief executive paid £6.8mn if he meets certain targets.

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