Domino’s Pizza shares are getting crushed

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Shares in Domino’s Pizza fell hard after announcing softer than expected sales in Australia.

A short time ago, they were down 9% to $45.00.

Overall, the company posted a 17% lift in half year profit to $58.7 million.

In Australia and New Zealand, sales increased 7.1% or $36.8 million to $557.8 million for the six months.

Domino’s ANZ CEO Nick Knight described the result as slightly softer than anticipated.

The company updated same store sales guidance for Australia and New Zealand to between 6% and 8%, down from 7% to 9%.

Overall, Domino’s reaffirmed full year profit growth guidance of 20% with improvements to same store sales in all markets.

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