Reports Of A Pizza War In Australia Have Put Domino's Under Market Pressure

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Domino’s, the big player in Australia’s pizza world, is under pressure from a reported pizza war.

The Sydney Morning Herald says Domino’s Pizza cut the price of its value range pizzas to $4.95, a move the company describes as “never before seen on the pizza landscape”.

Pizza Hut replied by matching the $4.95 price tag but also capping the cost of its most expensive pizza at $8.50.

Domino’s is listed on the ASX and has a 13.4% market share with revenue of $467 million.

Michael McCarthy, chief market Strategist at CMC Markets, says Domino Pizza fell on news of a new “pizza war”.

Domino’s closed today at $20.68, down $0.10 or about 0.48%.

The rest of the Australian market started the week with a whimper, rather than the bang expected from a strong US market performance on Friday night.

The S&P/ASX 200 closed at 5,543.10, just 11.44 points up or about 0.21% firmer.

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