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The Domino’s Pizza Enterprises Ltd. (ASX:DMP) share price is losing serious ground today

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The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price has fallen 10.5% to $49.82 at the time of writing off the back of the fast food retailer’s AGM announcements yesterday.

So why the drop?

Despite the share price decline, AGM reports seemed positive overall.

Domino’s has flagged product and technology innovation as capable of lifting sales in all markets, with a rollout in play in Japan – a market which has delivered 5% same-store sales growth for the financial year to date.

The Domino’s share price has been under pressure lately but still has a 5.8% one-year return, although its dividend yield of 1.94% is no doubt lower than investors would like it to be.

But management remains “confident of significant growth” within the business and its footprint in Europe is growing with the integration of the Hallo Pizza business and 134 stores committed to converting.

Who else has hit the skids?

Other S&P/ASX 200 stocks joining Domino’s on the falls list today include APA Group (ASX: APA) down 9.8% to $8.57 and James Hardie Industries plc (ASX: JHX) down 14.7% to $16.99.

At the other end of the scale, the Elipx Group Ltd (ASX: ECX) share price has lifted a whopping 18.7% to $2.73 at the time of writing.

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Returns as of 6th October 2020

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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