Domino’s Pizza shares have fallen nearly 40% over the past year as pizza’s share of U.S. restaurant spending slips and investors react to slowing sales and a surprise CEO change. The company said Chief Operating Officer Joe Jordan will replace CEO Russell Weiner, a shake-up that spooked investors and sent shares lower after first-quarter U.S. same-store sales growth came in at just 0.9%, prompting management to abandon its 3% target for 2026. Despite the headwinds, Domino’s continues to gain market share among the top three public pizza chains, climbing to 54% in 2025 from 38% in 2016, while Pizza Hut and Papa John’s shrink. Its vertically integrated supply chain and larger advertising budget help a typical Domino’s restaurant generate $166,000 in EBITDA per unit, far above Pizza Hut’s $55,000, and the asset-light corporate model produced $672 million in free cash flow last year. With the stock now trading at about 14 times forward earnings, a level not seen since the post-financial-crisis years, patient investors could benefit from steady buybacks and dividends even if same-store sales growth remains low.
Domino's Pizza Inc Common StockShares fell 40% on slowing sales, abandoned 3% growth target, and surprise CEO change.
Papa John's International IncMentioned as losing market share to Domino's, shrinking.
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