First quarter '02 sales down at Papa John's

 
April 9, 2002

LOUISVILLE, Ky. -- Papa John's International, Inc. (NASDAQ: PZZA) announced April 9 that systemwide comparable sales for the 13-week period ended March 31, 2002, decreased 2 percent. The drop was composed of a 1.3 percent decrease at company-owned restaurants and a 2.2 percent decrease at franchised units.

Systemwide comparable sales for the five-week period ended March 31, 2002, however, increased 1.9 percent, composed of a 3.2 percent increase at company-owned restaurants and a 1.5 percent increase at franchised units.

Total systemwide international sales increased 10.5 percent for the 13-week period and 9.8 percent for the five-week period, on a constant U.S. dollar basis, over comparable periods last year.

According to a company release, the timing of the Easter holiday had a 1 to 2 percent negative impact on March comparable sales. Most of its units reduce operating hours on Easter Sunday, which fell during March this year, versus April the previous year.

As of March 31, there were 2,742 Papa John's restaurants (593 company-owned and 2,149 franchised) operating in 47 states and nine international markets. Papa John's also owns or franchises 183 Perfect Pizza restaurants (two company-owned and 181 franchised) in the United Kingdom.


Topics: Public Companies


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