ASX-listed Domino’s Pizza could be forced to hand over international markets, its US parent warns

Embattled Domino’s Pizza could be forced to hand over control of some of its international operations if sales don’t pick up, the chain’s US parent warns.

ASX-listed Domino’s Pizza Enterprise, which operates 3500 stores in Australia, New Zealand, Japan and Europe, has been embroiled in a long-running stand-off with its Nasdaq-listed master franchisor, Domino’s Pizza, over a sales slump.

The Jack Cowin-chaired Domino’s posted a widening loss last financial year after it moved away from heavy promotions and popular vouchers to offer consistent pricing.

In a trading update overnight on Wednesday, Domino’s US chief Joe Jordan said it was open to working with the ASX-listed business to hand over international markets to a new operator.

“If (Domino’s Pizza Enterprise) can be the owner of those markets, then great. We’ll work with them. And if they can get the results, I’m happy for them to keep those markets,” he told investors.

“If it’s not right for them, then we’ll work with them to make sure that those markets can be successful in someone else’s hands.”

Mr Cowin — which is the biggest shareholder of Domino’s Pizza Enterprise and also the founder of Hungry Jack’s — had been overhauling the business and previously refused to apologise to the chain’s US parent for moving away from heavy discounting.

It would continue to sacrifice short-term royalties in favour of sustained growth, he said.

The comments from Domino’s US came days after the boss of Domino’s Australian and New Zealand division abruptly resigned after less than a year in the top job. Group chief executive Andrew Gregory has assumed responsibility for the ANZ operations.

It’s not the first time the boss of the local division abruptly quit.

Kerri Hayman stepped down in August 2025, a year after she was promoted by her brother and former Domino’s group CEO Don Meij.