That is expected from new CEO. Don’s restructuring savings of 90m is sill flowing through in the P&L. This will be base business going forward around $1.50 eps, FCF around $250m in 2025/2026. Current valuation are bare minimum for these numbers in my opinion. Any new restructuring related write downs from new CEO to the P&L will be one off again and further restructuring savings may come out of it hopefully. It will be positive going fwd. The main point in my mind is the brand Domino is doing well in many parts of the world. Brand is getting well established in India and China too. In Japan doubling of stores with in 5 years and Covid boost has misguided management thinking that they have cracked the code in Japan. The resetting process and making remaining store profitable is taking place currently and it cannot be completed fast enough.
DMP Price at posting:
$29.35 Sentiment: Buy Disclosure: Not Held
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