Domino’s Pizza Enterprises Sinks as Sales Decline Worsens

Domino’s Pizza Enterprises Ltd. plummeted after the loss-making company slashed its dividend and said sales have fallen even faster in the new financial year.

The stock tumbled as much as 21% in Sydney, before trading down 19% at A$15.71 at 11:47 a.m. local time. The decline slashed the company’s market value to A$1.48 billion ($961 million).