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HomeTrading NewsDomino’s shares slide as company announces CEO retirement, weak fourth-quarter results

Domino’s shares slide as company announces CEO retirement, weak fourth-quarter results

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An employee carries an order for a customer at a Domino’s Pizza restaurant in Detroit.
Sean Proctor | Bloomberg | Getty Images

Domino’s Pizza on Tuesday reported quarterly earnings and revenue that fell short of analysts’ expectations.

The pizza chain also announced that CEO Ritch Allison plans to retire. Domino’s Chief Operating Officer and U.S. President Russell Weiner will succeed him as head of the company.

Shares of the company fell roughly 6% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $4.25 vs. $4.28 expectedRevenue: $1.34 billion vs. $1.38 billion expected

The pizza chain reported fourth-quarter net income of $155.7 million, or $4.25 per share, up from $151.9 million, or $3.85 per share, a year earlier. Analysts surveyed by Refinitiv were expecting earnings per share of $4.28.

Net sales dropped 13.4% to $1.34 billion, missing expectations of $1.38 billion.

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