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0 0.0015398829688945 0.00200184785956282 0.000923929781336653 0.0044564213119803 0.0058546350477364 -0.00739143825069301 -0.00708346165691398
Stock impact report

Papa John's to close hundreds of restaurants [FOX Business Network]

Papa John's International, Inc. (PZZA) 
Last papa john's international, inc. earnings: 2/26 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.papajohns.com
"We have identified approximately 300 underperforming restaurants across North America that are not meeting brand expectations or lack a clear path to sustainable financial improvement, as well as locations where we can effectively transfer sales to a nearby restaurant," Papa John's Chief Financial Officer Ravi Thanawala said last week during the company's fourth-quarter earnings call. Thanawala described the locations as being primarily franchise-owned, more than a decade old and generating less than $600,000 in annual sales (AUVs). He said the majority of the restaurants will shutter by the end of 2027, with about 200 closures happening this year. "We believe these closures will further strengthen the system, increasing AUVs by at least 3% and improve franchisee health by allowing franchisees to reallocate resources towards operational excellence in their remaining restaurants and open units in priority markets, " Thanawala said. Ticker Security Last Change Change % Show less Read more
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