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Domino's Pizza Enterprises Ltd DMP

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Domino’s Sales Weaken in Japan, but a Few Weeks of Trading Doesn’t Change Our Investment Thesis.

Analyst Note

| Johannes Faul, CFA |

Surprisingly, sales in Domino’s standout region of late, Japan, have weakened dramatically in the second quarter of fiscal 2022. Only recently, the firm’s U.S.-listed master franchisor explicitly called out Japan as having an outstanding September 2021 quarter “…continuing its impressive streak of growth.” However, since the reopening of the Japanese economy in September 2021, consumer spending has shifted to restaurants, bars, and shopping centres, pushing Domino’s Japanese network sales into negative territory for the first 18 weeks of fiscal 2022.

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Company Profile

Business Description

Domino's Pizza Enterprises is engaged in the operation of fast-food pizza outlets and franchise service. The company holds the exclusive master franchise rights for the Domino's brand and network in Australia, New Zealand, Japan, Taiwan, Germany, France, Denmark, Belgium, Luxembourg, and the Netherlands. It entered the German market via a joint venture and acquisition. The Domino's brand is owned by NYSE-listed Domino's Pizza, Inc.

485 Kingsford Smith Drive, Level 1, KSD1
Brisbane, QLD, 4007, Australia
T +61 736333333
Sector Consumer Cyclical
Industry Restaurants
Most Recent Earnings
Fiscal Year End Jun 27, 2022
Stock Type
Employees 1,106