(Reuters) -Britain’s Domino’s Pizza Group reaffirmed its annual earnings forecast and launched a 20 million-pound ($27 million) share buyback programme on Monday.
Last month, the company cut its 2025 core profit forecast to 130 million-140 million pounds, down from 141 million-150 million pounds, citing high costs and subdued customer demand.
Consumers in UK are tightening their purse strings amid persistent inflation, shifting weather and higher prices as companies pass on costs.
The company will raise prices to offset the higher wage bills and increased National Insurance contributions, CEO Andrew Rennie had told Reuters in August.
Analysts at Peel Hunt expects the company’s like-for-like sales to pick up next year, helped by the full roll out of its loyalty programme, FIFA World Cup and better weather.
($1 = 0.7402 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Sumana Nandy and Mrigank Dhaniwala)
