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Domino’s announces earnings & New CEO

Domino’s Pizza’s (NYSE: DPZ) stock fell as much as 8% in early trading yesterday before rising again, after the company missed on quarterly earnings & announced a new CEO.

Earnings

Domino’s sales came short relative to analyst expectations, as sales amounted to $1.34 billion versus analysts’ $1.38 billion expectations.

Earnings per share (EPS), which recorded $4.25, were just shy of analysts’ $4.28 expectation.

C-suite reshuffle

Domino’s current CEO will be replaced by its current COO Russell Weiner, effective May 1st, 2022.

The company will also replace its current CFO with Sandeep Reddy, current CFO of Six Flags.

One analyst at Cowen investment bank sees this shakeup as a positive step for the company’s brand.