83-Year-Old Pizza Tycoon Says Sales Point to Domino’s Turnaround

Since taking the reins at Domino’s Pizza Enterprises Ltd. last July, 83-year-old fast-food billionaire Jack Cowin has overhauled a growth-at-any-cost strategy that had crunched earnings and sent its shares into freefall. Investors are yet to be convinced it’s working.

Cowin’s revamp hinges on reversing the Australian pizza chain’s addiction to discounts, vouchers and multibuy deals. Instead, he’s carving out costs and pushing a simpler menu with pricier pizzas. His goal is to generate sales that are more profitable for the hundreds of Domino’s franchisees on which the company depends.