Mr. Sameer Khetarpal joined as the new CEO effective Sep 5th
Expectations from the new CEO:
1) Approach towards ensuring profitable scale-up of Dominos
2)Success of Popeyes
3) ramp up of the loyalty program
4) Prudent capital allocation
JP Morgan’s View:
Neutral rating; Tgt Price- Rs 612.25
Stock has underperformed YTD, given the slower SSSg, Competition
Risk-reward is fairly balanced at current valuations:
-Demand risk amidst inflationary challenges for discretionary spends
-Margin concerns in the backdrop of accelerated new store additions
-Popeyes scale up and soft SSSG.
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