Key takeaways:
- Domino’s UK is entering a leadership transition after CEO Andrew Rennie’s departure, with COO Nicola Frampton stepping in on an interim basis.
- The chain is facing slower sales growth, rising costs and slimmer margins, with first-half underlying profit before tax down nearly 15% to £43.7 million.
- Domino’s strategy decisions – including the future of its Chick ’N’ Dip rollout – are on hold until a new CEO and CFO are appointed to set a clearer direction.
Domino’s UK has lost its chief executive, Andrew Rennie, after only two years in the job. The Milton Keynes-headquartered company said he stepped down this week and that chief operating officer Nicola Frampton will hold the reins while the board starts the search for a permanent successor. No extra detail was offered, other than the usual assurances about continuity, but the timing will raise eyebrows inside a business that’s been trying to work out where its next phase of growth is supposed to come from.
Frampton’s appointment isn’t a surprise; she’s been close to the operational nuts and bolts for years and this is a moment when Domino’s probably wants steadiness more than anything else. The company’s first-half numbers were a reminder of how tight the market has become: Group revenue nudged up just 1.4% to £331.5m, system sales rose 1.3% to £777.8m and like-for-like sales (excluding splits) were essentially flat. Underlying profit before tax fell almost 15% to £43.7m, with EBITDA down 7.4% to £63.9m. None of this suggests crisis, but it does suggest a business hitting resistance.
Part of Rennie’s pitch inside the company had been the Chick ’N’ Dip trial – a chicken-led add-on that’s now running across parts of the estate. It was framed as a way to reach new customers without taking Domino’s too far from its core. Management says the trial continues, though more significant investment calls will wait until a new CFO joins next year.
Domino’s opened 11 stores in the first half and now expects only ‘mid-twenties’ for the full year – another sign of a company taking a more cautious stance until the leadership picture settles.
A thinner crust
The delivery landscape Rennie walked into in 2023 isn’t the one he’s leaving behind. Pizza’s still a staple, but it’s not the automatic Friday-night order it once was.
Meal deals from supermarkets have taken a bite out of higher-ticket orders and aggregators have been aggressive with promotions that tug customers in half a dozen different directions at once. Throw in lingering food inflation and you get households that aren’t acting like they did during the app-boom years.
Even so, Domino’s remains one of the most visible names in UK quick service. In some parts of the country, it’s effectively the last national delivery chain still expanding. But its most recent results reflect the same story running through the wider sector: costs pushing up faster than revenue, margins narrowing and a business that’s working hard just to stay level.
Chicken, unlike pizza, has kept growing. That’s why Domino’s is still testing it. Younger customers have leaned into the category and operators such as Wingstop have shown how quickly demand can snowball. Whether Domino’s turns its trial into something more permanent is now a question for the next CEO, not the interim setup.
What the next slice might look like
The board’s job now is to hire someone who can bring a clearer sense of direction. Domino’s has assets that many rivals would love: millions of digital customers, a supply chain with huge reach and a loyalty program planned for 2026 that if done well, could give it more predictable repeat business. But those strengths need sharper commercial focus than the company’s had over the past year.
Most analysts say the answer isn’t a dramatic reinvention. The pizza category may’ve cooled, but it still offers dependable volume when price and convenience line up. The more likely route is tightening the value offer, being more selective about menu innovations and making sure franchisees and head office pull in the same direction.
For now, Domino’s is signaling a holding pattern: keep the trials running, steady the stores, avoid sudden moves and let the new leadership settle before committing to anything big. The company’s infrastructure and brand recognition remain strong – what it needs next is a plan that feels consistent, not improvised.
