Media Bites 7 August: Domino’s Pizza Group, Coca-Cola, Klarna | News

Domino’s Pizza downgraded its full-year profit forecast as consumers grappling with cost of living pressures held back on spending earlier in the year, leading to lacklustre order numbers. (Financial Times £)

Domino’s Pizza Group is pinning sales growth hopes on discounts and meal deals after a ‘slow start’ to 2024 (Daily Mail). Domino’s Pizza Group has become the latest fast-food company to promise cheaper prices through more promotions, saying it would pass on falling costs to customers in coming months via local deals (The Guardian).

Domino’s Pizza Group has announced it is aiming to continue expanding by opening a total of 70 new branches this year. (Sky News)

A decade-long dispute between Coca-Cola and the US tax authorities has escalated to the point that the company could owe $16bn in back taxes, enough to wipe out a year and a half of profits, with the figure rising by more than $1bn a year. (Financial Times £)

Buy-now-pay-later giant Klarna is considering selling shares ahead of a potential blockbuster New York listing. The Swedish lender has asked investment bank Goldman Sachs to advise on a secondary share sale, where investors sell their stock to another party. (Daily Mail)

The Guardian interviews “the most famous landlord in Britain” Tim Martin of Wetherspoon’s. Martin has been a proficient strategist, recognising early on that it was hard to get the large pub chains to sell him sites and instead choosing to convert retail venues. He now presides over perhaps the best-known pub chain in the country, with about 40,000 staff and a stock market value of almost £1bn. (The Guardian)

“Why do I love Greggs? Let me count the ways”, writes Zoe Williams in The Guardian. From the vegan sausage roll, to free food and drink for employees, Greggs has always had my vote. And now it seems customers agree. (The Guardian)