Brands
Peter Brabeck-Letmathe ends his long tenure as Nestlé Chairman Emeritus
VEVEY: Nestlé’s long-serving statesman Peter Brabeck-Letmathe has chosen to relinquish his chairman emeritus title, bringing a gentle close to a remarkable association that began more than half a century ago.
The former chairman and chief executive, who joined the Swiss food giant in 1968, informed the Board of his decision as the company prepares for its 159th annual general meeting on 16 April 2026. The move marks the end of an honorary role he held after stepping down from official duties in 2017.
Nestlé Chair Pablo Isla paid warm tribute to Brabeck-Letmathe, calling him a visionary whose steady hand helped shape the global group. Isla said Peter followed the company’s evolution with genuine enthusiasm and would continue to be regarded as a valued friend of the organisation.
During his decades at Nestlé, Brabeck-Letmathe held key leadership posts, guiding the company through periods of expansion, reinvention and global change. His departure from the Emeritus role draws the curtain on a distinguished career while clearing the stage for the next chapter in Nestlé’s leadership story.
For Nestlé, the transition signals continuity with a touch of nostalgia, as the company salutes one of its most influential architects and steps forward into its future.
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.
