Domino’s Pizza Enterprises says it will close nearly 10 per cent of stores in Japan and France to arrest poor performance, telling investors that a long-term target of 7100 stores by 2033 “will not be achieved”.

Shares in the ASX-listed fast food chain, which operates the high-profile pizza franchise in Australia, Europe and parts of Asia, fell more than 8 per cent on Thursday, closing down $2.97 to $33.12. That takes their decline since the start of the year to more than 44 per cent, with investors long worrying that the high touted by the company’s management would not be achieved.