LOUISVILLE, Ky.—Papa John's International, Inc. announced that domestic systemwide comparable sales for the five weeks ended March 28, 2004, decreased 3.7 percent (composed of a 2.6 percent decrease at company-owned units and a 4.1 percent decrease at franchise units).
According to a news release, domestic systemwide comparable sales for the quarter ended March 28, increased 0.5 percent (composed of a 1.3 percent increase at company-owned units and a 0.2 percent increase at franchise units).
Total systemwide international sales decreased 1.8 percent for March, but increased 5.1 percent for the quarter, on a constant U.S. dollar basis.
In the release, Papa John's reaffirmed its previously announced earnings per share (EPS) guidance of $2.20 to $2.28, but warned that soaring cheese prices could reduce EPS by as much as 86 cents (1.34 to $1.42) in 2004. The news sent the company's stock tumbling nearly 6 percent in late-day trading.
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