Domino's Pizza (ASX:DMP) shares plunge as international sales fizzle

Domino's Pizza shares plummeted after the company abandoned earnings guidance, citing disappointing sales in key international markets that failed to offset improvements in Australia.

Domino's reported an 8.9% decline in same-store sales in Asia for the first half of FY24, leading to below-expectation earnings.

The company expects its first half preliminary net profit before tax to range between $87 million and $90 million, lower than the preceding year but higher than the previous half-year.

Despite robust sales in Australia, New Zealand, and Germany and positive European performance, negative same-store sales growth in Japan, Taiwan, Malaysia, and France weighed on the overall business.

While Australia and NZ experienced 8.2% higher same-store sales and 8.1% network sales growth, the anticipated sales turnaround in Japan during the Christmas period did not materialise, impacting Asia's first-half earnings.