Domino's Shares Drop 9 Percent

After plummeting 9 percent this morning, Domino’s stock is on pace with its worst day since July 25, according to a report by CNBC.

The $10.5 billion brand opened a net 560 stores in the fourth quarter, including 125 in the U.S., as part of its rapid “fortressing” growth strategy, which is intended to decrease delivery times and bump driver tips, according to the article. The report also noted that last year the pizza giant surpassed over 10,000 locations abroad.

Domino's U.S. same-store sales reportedly grew only 5.6 percent, falling short of the 6.9 percent increase analysts predicted. The article indicates the brand said fortressing impacted U.S. same-store sales by as much as 1.5 percent last year.

The article reports that in the fourth quarter, Domino’s earned $2.62 per share, short of the $2.69 per share expected by Wall Street, and earned $1.08 billion in net revenue, short of the expected $1.10 billion. 

Read the full article on CNBC here.