Domino's shares tank 16% as Pizza Hut competition hits sales
Restaurant chain Domino's Pizza's shares plunged by 16% on Thursday after posting a slowdown in sales growth as rival Pizza Hut cut prices. Domino's UK CEO David Wild said Pizza Hut was "very aggressive" in January and consumers in UK were cautious about spending. Business, however, will continue to grow through expansion both in the UK and abroad, he added.