Shares of Australia's Domino's Pizza Enterprises were heading for their biggest intraday jump ever on Friday, after the pizza chain operator flagged the closure of 205 loss-making stores and signalled a positive start to the second half of fiscal 2025.

Domino’s Pizza Enterprises said it will provide an update on its Japan strategy at an investor day during the June half.

Domino’s Pizza has slammed the brake on its historic ambitious and aggressive store roll out strategy, announcing it would close 205 loss-making stores, 172 in its struggling Japan market, as it also looks to slice its interim dividend more than expected to preserve its balance sheet amid a challenging fast-food market.

Some 172 of the stores to be shut are in Japan, where a pandemic-era sales surge has faltered, the Brisbane, Australia-based company said Friday. The closures will hit almost one in five of the 944 Domino’s stores in the Asian nation.

Shares in ASX-listed Domino’s Pizza traded more than 20% higher today after the company announced the closure of 205 stores, the bulk of them in Japan. In a trading update, the company said that it had completed a “detailed operational and financial review to create a simpler and better

Domino's shares soared almost 25% in early trade after the company announced 172 store closures in Japan and a group-wide review identifying $18.6 million in cost savings Domino's is the fifth most shorted stock on the market (12.