British pizza delivery company Domino’s Pizza is pulling out of Switzerland, Norway, Sweden and Iceland owing to increasing losses.
“Although the financial results have stabilised, the performance of our international business remains disappointing,” said outgoing chief executive David Wild on Thursday. “We have concluded that, while they represent attractive markets, we are not the best owners of these businesses.”
The British firm, which operates under licence from its US parent, reported that strong third-quarter demand in Britain and Ireland had increased total turnover by 3.4% to £313.5 million (CHF396 million). However, third-quarter turnover in the small international business fell 2.7% to £25.3 million.
In Switzerland, sales shrank by 2.9% in the third quarter, when another store was opened in Zurich.
According to Domino’s Pizza Switzerlandexternal link, the chain has 22 locations in Zurich, Geneva, Basel, Lausanne, Bern, Winterthur, Dietikon and Neuchâtel. It employs 420 people.
Founded in Michigan in 1960, Domino’s opened its first Swiss branch in Geneva in 2000.
Domino’s is not the first US pizza operation to raise the white flag in Switzerland. Pizza Hut Switzerland once had ten restaurants in the country but went bankruptexternal link in 2004.