MAM
First win for Ad Club prez Raj Nayak: McCann back in Goafest fold
MUMBAI: After a consecutive no-show for the last two years at the Abby Awards and Goafest, the Prasoon Joshi led McCann Worldgroup India has announced that the agency will take part in the 11th edition of the advertising festival.
The move comes close on the heels of the new Advertising Club president and Colors CEO Raj Nayak announcing his intention to make Goafest 2016 more inclusive.
Confirming the agency’s presence at the festival, McCann India Asia Pacific chairman and CEO Prasoon Joshi says, “We will send symbolic token entries to honour the festival in all the categories but our delegates will participate and attend the fest in large numbers. We believe that genuine efforts have been made by the organisers this year to overcome the shortcomings and we also want to partner them in this journey positively. In the future, we will see the festival touching newer heights.”
Last year, though the agency did not participate in the Creative Abby, Joshi did attend the ceremony where he was felicitated by the Ad Club.
On McCann’s participation this year, Joshi further adds, “We take immense pride in our creative product and the decision of participation in award shows is collectively taken by our global/local creative councils. We wish GoaFest the very best.”
Nayak’s intent to make the 11th edition of the advertising festival more inclusive was primarily in relation to reinstate the participation of major creative agencies in the country who had long refrained from attending the Creative Abbys. Word had it that ‘cheerful’ Raj, as the Colors CEO is often called courtesy his Twitter handle, had personally reached out to the respective executives and agency heads to hear and address issues that stood in the way of them and Goafest 2016. Therefore, the recent development with McCann definitely comes as a step forward in Nayak’s “inclusive” vision.
Now it remains to be seen whether other creative heavyweights like Ogilvy and Mather, Leo Burnett and Lowe Lintas will also follow suit and brighten up the spirit of the Abby and Goafest 2016 at large with their participation.
Brands
Domino’s Q1 profit falls 6.6 per cent, announces $1 billion buyback
Sales rise 3.4 per cent as pizza giant balances growth and shareholder returns
NEW YORK: Domino’s reported a mixed start to 2026, with first-quarter net income slipping even as global sales and store expansion held steady. The company also announced a fresh $1 billion share buyback, underlining its continued focus on shareholder returns.
Global retail sales rose 3.4 per cent on a constant-currency basis to $4.74 billion. The US remained a key growth engine, with same-store sales inching up 0.9 per cent, supported by a 1.5 per cent rise at company-owned outlets.
International markets, however, painted a more uneven picture. While Domino’s added 161 net new stores overseas during the quarter, international same-store sales declined 0.4 per cent. Overall revenues still climbed 3.5 per cent to $1.15 billion, driven by higher supply chain revenues and a 2.6 per cent increase in food basket pricing for franchisees.
On the profitability front, net income fell 6.6 per cent to $139.8 million, compared to $149.7 million a year earlier. Diluted earnings per share dropped to $4.13 from $4.33. The decline was largely attributed to a $30 million unfavourable swing in unrealised gains linked to its investment in DPC Dash Ltd.
Despite this, operational performance showed resilience. Income from operations rose 9.6 per cent to $230.4 million, supported in part by a $7.8 million pre-tax gain from the sale of a corporate aircraft.
Domino’s footprint continued to expand, with the company ending the quarter at 22,322 stores across more than 90 markets. In the US, digital orders remained dominant, accounting for over 85 per cent of retail sales in 2025.
The company also maintained its dividend payout, declaring $1.99 per share, payable on 30 June 2026. After repurchasing $75.1 million worth of stock during the quarter, the new authorisation lifts the total available for buybacks to $1.29 billion.
Domino’s chief executive officer Russell Weiner said the company’s scale and store-level economics position it well to capture further market share in 2026, even as competition intensifies.
As Domino’s leans into expansion and capital returns, the latest results show a business managing short-term pressures while keeping its long-term growth strategy firmly in play.
