Domino's Pizza's (DOM) half-year results were evocative of Groundhog day: the UK and Ireland outperformed, while Germany served up yet another soggy performance. Like-for-like sales in Germany fell 1.7 per cent, while the loss widened from £3.2m to £4.7m. The country's transition from corporate stores to a franchise model is taking longer than expected.
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New chief executive David Wild conceded that Germany was a "work in progress", and that the scale of the challenge could not be underestimated. But he also said there was huge potential in the country, if Domino's can get its act together.