Israeli Domino's Pizza franchisee records third straight loss

April 2, 2003

JERUSALEM -- Omni Food Brands, master franchisee of the Domino's Pizza franchise in Israel, reported a NIS 7 million (U.S. $1.4 million) loss in 2002.

According to Haaretz Daily, the loss follows a NIS 2.3 million (U.S. $460,000) loss in 2001 and a NIS 7.2 million (U.S. $1.44 million) loss in 2000.

Domino's is one of several international fast-food franchises struggling in Israel, including Burger King, Kentucky Fried Chicken, Dunkin' Donuts, Pizza Hut, Haagen Dazs, Subway and Starbucks.

Omni Food Brands operates 19 Domino's units in Israel and has a subsidiary role in seven others.

The company said it is initiating a number of efficiency measures to cut expenses and plans to sell off some of its assets.

The franchisee blamed the high cost of competing with Pizza Hut as one reason it's struggling.

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