Domino’s Australia Stock Sinks 20% on First Annual Loss Since 2005

Domino’s Pizza Enterprises Ltd. reported its first annual loss in two decades, blaming weaker consumer spending and higher costs across its Australian and Asian markets. The company did not disclose detailed figures in its preliminary release but said group-wide same-store sales dropped further at the start of the new financial year, signalling that the downturn is deepening. In response, the Brisbane-based operator of the Domino’s brand in Australia, New Zealand, Japan and parts of Europe cut its dividend and outlined plans to curb capital expenditure. The move failed to reassure investors; the stock sank as much as 20% in Sydney on Wednesday, wiping roughly one-fifth off its market value.