Why Domino's Pizza Stock Dropped This Week
Shares of Domino's (NYSE: DPZ) fell this week, dropping 14% through Thursday trading compared to a 1.6% decline in the wider market, according to data provided by S&P Global Market Intelligence. The pizza chain's shares are now down 11% so far in 2023 and have declined over 20% in the past full year.
This week's drop came as investors digested Domino's fourth-quarter earnings update.
Wall Street was disappointed to learn that Domino's could not build on the positive momentum it achieved in the third quarter. Comparable-store sales growth decelerated in the core U.S. market, down to just 1% compared to 2% in the prior quarter. That result looks worse when stacked up against industry leader McDonald's (NYSE: MCD), which achieved accelerating growth in the fourth quarter as comps hit 10%.
Source Fool.com
