Domino’s Pizza closes at record high as CEO prepares exit

Domino’s Pizza closes at record high as CEO prepares exit

 

NEW YORK,.  Someone order pizzas: Patrick Doyle is going out with a bang.

Domino’s Pizza Inc reported first-quarter sales that were well above estimates — by about US$100 million (RM391 million) — in Chief Executive Officer Doyle’s second-to-last quarter at the helm. Comparable-store sales in the US rose 8.3 per cent, outpacing the 4.7 per cent rate the market expected. The shares closed at a record high yesterday following the news.

Doyle, who is leaving his post as the pizza chain’s CEO in June, has overseen a period of torrid growth for the company. Although shareholders sold off the stock when his departure was announced in January, the company is “in good hands,” Doyle said Thursday. He will be succeeded by international head Richard Allison.

The outgoing CEO also stoked analysts’ optimism by touting the company’s progress in establishing the “hotspots” programme, which allows for deliveries to locations without an address.

— Bloomberg