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German disappointment for Domino's

A disappointment from Domino's much touted German business has sent the shares plunging 7 per cent lower.
July 4, 2013

With sales growth in Domino’s Pizza's (DOM) core UK market having been in decline for some time, investors have been putting much hope in the delivery pizza company’s expansion in Germany.

IC TIP: Sell at 624p

So news that corporate stores in the fledgling German operation were performing less well than hoped sent the shares plummeting by 7 per cent. Meanwhile news of better than expected 6.1 per cent like-for-like sales growth in the UK in the second quarter could not offset the disappointment.