Jubilant FoodWorks shares hit 2 year low after weak sales
Business
Jubilant FoodWorks, the company behind Domino's Pizza in India, just saw its shares tumble to a two-year low.
The main reason? Their same-store sales barely grew, just 0.2% this quarter compared to 5% last time, even though overall revenue jumped by 19.1%.
It's a clear sign that people are still holding back on spending.
Analysts call results a big miss
Analysts didn't hold back, calling the results a "big miss" and warning that weak sales could hurt profits going forward.
To turn things around, Jubilant is opening more stores, 69 net stores added this quarter, but with rising costs hitting the whole industry, it's an uphill battle to win back investor confidence.