The widely expected earnings downgrade is here. It's a shame management didn't manage expectations earlier and fess up to it.

The ambitious store roll out has been pared back with more store closers (no net growth), and the long-term 2033 target of nearly doubling their current network to 7100 stores will not be reached by 2033. Again, the admission is too little, too late as the share price damage has already been done.

Following a decent AGM in November, Domino's shares have perked up (along with the broader market of course), and have now inched up above a zone of resistance that has been a cap on the price a few times this year ($55-56).

A sustained push above these levels will give the shares a fair chance of eventually closing that post-HY results gap overhead to $70.